Why Is Dogecoin Heading Lower Today? – Dogecoin – United States Dollar ($DOGE)

Dogecoin (CRYPTO: DOGE) traded 2% lower at $0.12 over 24-hours leading up to early Monday morning. 

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -2%
24-hour against Bitcoin 0.6%
24-hour against Ethereum 2.1%
7-day -12%
30-day -13.1%

YTD performance


See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE traded lower alongside other major coins at press time as the global cryptocurrency market cap fell 1.6% to $1.72 trillion.

DOGE was included among the most mentioned coins on Twitter. It attracted 791 tweets at press time, according to Cointrendz data.

The three most mentioned coins, Bitcoin, Ethereum, and Shiba Inu, attracted 7,020, 3,106, and 2,706 tweets, respectively. 

As the war between Russia and Ukraine intensified, cryptocurrencies slipped on Sunday night along with other risk assets.

Marcus Sotiriou, an analyst with United Kingdom-based digital asset trader Globalblock said that the Russian invasion of Ukraine saw risk-on assets “bought aggressively” last week. 

Over the weekend, DOGE co-creator Billy Markus highlighted DOGE’s dominance over Bitcoin, in terms of unique daily transactions. Markus said it would be “nice to get back to this level of on-chain usage!”

On Sunday, Dogecoin’s official Twitter handle responded to Ukraine’s call for cryptocurrency donations, asking it to accept the apex meme coin. The country’s government is currently accepting donations in Bitcoin, Ethereum and Tether.

Meanwhile, Markus decried scammers who are posing as the Government of Ukraine and trying to raise money through scams. He said, “this is beyond disgusting.”

Dogecoin Chatter: Dogecoin-oriented Twitter handle Mishaboar responded “cool due” to Tesla Inc (NASDAQ:TSLA) CEO Elon Musk after he told Ukraine’s Twitter handle that “Starlink service is now active in Ukraine. More terminals en route.”

Markus simply said, “that is badass.”

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