Dogecoin has dipped as the entire crypto market took a hit Monday, with memes coins—among the most volatile digital assets around—posting some of the largest losses among the top 100 cryptocurrencies.
The price of the original meme coin now stands at $0.323 per coin, after a 24-hour dip of nearly 5%, according to CoinGecko. Earlier Monday, DOGE fell below the $0.315 mark, hitting its lowest price since January 1.
Zooming out, the asset—often praised by the world’s richest man, Elon Musk—has dropped by more than 16% over the past week.
Bitcoin (BTC) took a hit Monday and is now down by nearly 4% in the past day and trading for $91,500, after nearly touching $90,000 earlier in the morning ET time. It followed stocks, which dipped on fears that interest rates would stay higher than expected in 2025.
But meme coins are falling harder today, as of this writing.The Ethereum-based Pepe (PEPE), which last year was the best performing cryptocurrency of them all, has dipped by nearly 8%. Its price now stands at nearly $0.0000165.
Solana-based meme Bonk (BONK) has also taken a beating, nosediving by over 8% over the past day; it is trading hands now for $0.0000257. Shiba Inu (SHIB) and Dogwifhat (WIF) have also lost steam, with the tokens dropping by 6% and 9%, respectively.
Meme coins are extremely volatile cryptocurrencies that are based on Internet jokes and culture. They are born into existence very quickly—anyone can launch one—but can disappear just as fast.
The hype that often surrounds such cryptocurrencies means their prices can rocket upwards and make some lucky investors huge gains. But they can also plummet to zero with little warning.
Edited by Andrew Hayward
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Source: https://decrypt.co/300645/dogecoin-down-meme-coins-bleeding-even-harder
