Dogecoin price plunges 9% as crypto markets flash red
Among the market’s top 10 largest cryptocurrencies, Dogecoin price has led losses overnight, dropping about 9% in the last 24 hours.
The crypto industry’s largest “meme coin” by market capitalization, Dogecoin, has plummeted over 9% overnight.
Dogecoin price is now trading at around $0.088 following the latest drop. Bears have been in control of the token for the past week, too; in the past seven days, Dogecoin has fallen almost 16%, per CoinGecko.
After Ethereum and Bitcoin, DOGE generated the third-most liquidations in the past 24 hours.
Coinglass reports a total of $6.34 million in DOGE liquidations, the majority of which occurred on crypto exchange Binance. Roughly half of those liquidations ($3.79 million) were liquidated in the last 12 hours.
Losses accumulated have yet to eat into the hefty gains earned at the end of November, following continued speculation that Elon Musk would incorporate the cryptocurrency into Twitter.
In a recent presentation, the new Twitter CEO shared user metrics for the site as well as several new updates, including encrypted messaging and long-form tweets. The final box next to “Payments” is blank, churning the rumor mill that Musk had big plans for introducing a cryptocurrency.
However, there is little indication that he will actually move forward with such a plan.
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