Why Is Dogecoin Crashing Today?

Dogecoin DOGE/USD traded almost 9.4% lower at $0.13 as the cryptocurrency markets plunged after President Vladimir Putin of Russia made key announcements on two breakaway regions in Eastern Ukraine.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE was down in tandem with other major coins as the global cryptocurrency market cap decreased 7.2% to $1.7 trillion at press time.

DOGE was among the most discussed coins on Twitter. At press time, it attracted 464 tweets, according to Cointrendz.

Bitcoin, Ethereum, and Cardano were the three most discussed coins on the Jack Dorsey-founded social media platform. They attracted 3,035, 1,128, and 976 tweets, respectively. 

On Monday evening, major coins plunged after Putin recognized two breakaway republics in Eastern Ukraine. Cryptocurrency trader Justin Bennett said on Twitter that the odds of a diplomatic solution to the Russia-Ukraine situation “dropped dramatically.”

A private Franciscan university in Illinois — Quincy University — said it will accept donations in cryptocurrencies,  including DOGE.

Meanwhile, Sling TV, a streaming service subsidiary of Dish Network, said it will take DOGE and other cryptocurrencies through BitPay on Monday.  

Dogecoin Chatter: Dogecoin co-creator Billy Markus urged his followers to “make memes, not war.” 

make memes, not war

— Shibetoshi Nakamoto (@BillyM2k) February 21, 2022

Markus earlier retweeted a post from a Ukrainian Twitter account, which carried a meme on “Living next to Russia.”

pic.twitter.com/bBtsdr7wmX

— Ukraine / Україна (@Ukraine) December 7, 2021

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