In the recent crypto decline, Dogecoin also seems to have dropped by around 17%. DOGE co-founder commented on the price drop. DOGE profitability remains at 50% according to IntoTheBlock metrics. Detail cryptocoin.com‘in.
Dogecoin evaluates its decline
Dogecoin founder Billy Markus believes that nothing has changed in Dogecoin despite the current dips. He claims that no matter the price of Dogecoin, you continue to be the same Bitcoin fork as DOGE’s “funny yellow dog mascot”. In an earlier tweet, Markus describes how DOGE was created more than eight years ago as a genuine meme making fun of “dumb coins.”
As seen on CoinMarketCap, the cryptocurrency market fell to widespread selling pressure on February 24. And most altcoins fell more than 10%. Dogecoin tumbled around 17% to hit intraday lows of $0.106 before rebounding slightly. Despite the price drop, DOGE profitability remains at 50% according to IntoTheBlock metrics. IntoTheBlock Holder Composition also classifies half or 50% of Dogecoin holders as medium-term investors. Forty-five percent of holders have held LINK tokens for more than a year, but 6 percent have held them for less than a month.
Doge price and adoption
At the time of writing, DOGE is trading at $0.113 per token, ranking as the 12th largest cryptocurrency by market capitalization, despite falling 17% on the day, according to CoinMarketCap data. Dogecoin co-founder Billy Markus recently took to Twitter to share that a new fast food restaurant inspired by the original meme cryptocurrency has emerged in Dubai and now accepts DOGE as payment for burgers and sodas. Sling TV, a United States-based broadcast TV provider and wholly owned subsidiary of Dish Network, recently announced that it will receive cryptocurrency through BitPay. Subscribers of the virtual TV provider can now pay for their subscriptions using cryptocurrencies such as Dogecoin via BitPay.
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