Dogecoin Down 19% Since Hitting 3-Year High—Despite Bitcoin Rebound

2024-12-16 10:38:25 Primitive Reading

From decrypt by Andrew Hayward

DOGE. Image: Shutterstock

The crypto markets have seen intense volatility since Bitcoin broke through the $100,000 mark for the first time on December 4, with multiple plunges that have sent shockwaves that sank other assets—and piled up liquidations in the process.

But while Bitcoin has mostly rebounded from the sizable dips, Dogecoin has lost considerable steam over the last week since popping to a high of $0.48 for the first time since 2021.

At a current price just below $0.39, Dogecoin is down nearly 19% since that peak seen late on December 7. And over the last seven days, including data from the hours before that recent high, DOGE is down 15%.

That makes it the biggest loser among the top 10 cryptocurrencies by market cap, outpacing Cardano with a 13% dip during that span, and Solana with a 10% correction. Bitcoin is the only asset in the top 10 that's green on the week, up 0.7% as of this writing at a current price of $100,995.

Looking beyond the top 10, other leading meme coins in the top 100 cryptocurrencies have posted even sharper losses over the last week.

Dogwifhat (WIF) is the biggest loser in the top 100, down 28% during that span, while Bonk (BONK) has fallen 23%, Brett (BRETT) is down 22%, and Shiba Inu (SHIB) has matched the DOGE dip at 15%.

Overall, the crypto market has fallen by 3% over the last 24 hours, per data from CoinGecko.

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.