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DOGE: Dogecoin plummets to its lowest price in nine months



It’s been a brutal day in the cryptocurrency market, which has lost about 13% of its global value in the last 24 hours, according to CoinGecko. And while the Dogecoin meme has experienced a minor daily decline, it is now at its lowest point in over nine months.

Dogecoin has fallen nearly 9% in the past 24 hours to a current price just above $0.14 and briefly dipped below the $0.14 mark this afternoon. DOGE has fallen 18% in the past seven days, according to CoinGecko data.

By dipping below the $0.14 mark today, Dogecoin has hit its lowest point since mid-April 2021, when the long-standing meme coin was in the midst of a social media-driven surge that took its value from around $0.07 to $0.40 in a matter of days.

Dogecoin experienced a huge spike in value in early 2021. It started the year at less than a penny per coin, and then rose significantly starting in late January as part of the meme trading frenzy. DOGE peaked at around $0.08 per coin in early February before the price began to fall.

But DOGE’s value multiplied several more times in April and May, finally reaching an all-time high of over $0.73 on May 8. However, this peak was not sustained.

When the cryptocurrency market went into free fall in early summer, DOGE fell sharply with occasional rallies, but never came close to regaining its peak. DOGE has not risen above $0.30 since early September, and the price of Dogecoin has fallen 81% from its all-time high.

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It remains to be seen if Dogecoin can regain its early 2021 momentum and reach the mythical $1.00 mark, but for now, it is far from its peak. Today’s market plunge has only compounded the coin’s gradual decline in recent months.

As for the Shiba Inuthe Ethereum-based meme token that emerged as DOGE’s main rival last year – and even briefly surpassed Dogecoin in terms of market cap – is down 16% to a current price of $0.00002273. SHIB today touched a three-month low and is down 74% from its all-time high of $0.00008616 reached in late October.

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