Why Is Dogecoin Trading Lower Today?

Dogecoin DOGE/USD traded over 1.5% lower over 24 hours leading up to early Monday morning. 

Dogecoin, In Numbers: 

• 24-Hour Performance:-1.5%
• 7-Day Performance: 2.9%
• 30-Day Performance: -18.75%
• YTD Performance: -18.5%

Why It’s Moving? DOGE traded lower in tandem with other major coins like Bitcoin (BTC) and Ethereum (ETH) at press time as the global cryptocurrency market cap fell 3.9% to $1.7 trillion.

DOGE was among the most mentioned coins on Twitter at press time. It attracted 1,224 tweets, according to Cointrendz data.

The three most mentioned coins at press time were Bitcoin, Ethereum, and Cardano. They attracted 8,030, 5,190, and 2,513 tweets, respectively. 

DOGE, along with Bitcoin and Ethereum remained muted on Sunday evening as Asia headed towards celebrating the Lunar New Year.

A dogecoin knockoff “Doge-1” was launched over the weekend. Meanwhile, DOGE co-creator Billy Markus warned his followers on Twitter about the dangers of investing in so-called “crap tokens.”

Dogecoin Chatter: Markus also said over the weekend that it was a “HUGE deal that all the shibes that bought [Dogecoin] on Robinhood will finally be able to use dogecoin as it was intended.” He asked his Twitter following to “embrace the decentralization!”

it’s a HUGE deal that all the shibes that bought #dogecoin on Robinhood will finally be able to use dogecoin as it was intended - trading, tipping, whatever - rather than solely as a speculative investment stuck on a centralized platform!

embrace the decentralization!

— Shibetoshi Nakamoto (@BillyM2k) January 30, 2022

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