Dogecoin was one of the cryptocurrencies that took a heavy blow from a market crisis that broke out in March, resulting in a precipitous decline in its market capitalization.
According to a chart by Coingecko on Friday, Dogecoin (DOGE) is trading at $0.079378, a decrease of 4.1% over the past week. Its most recent price activity resulted in a market cap of $10,637,807,407 USD.
The popular cryptocurrency inspired by memes finished the month of May with a market cap of approximately $11.4 billion.
Dogecoin Market Cap Down 35%
Dogecoin’s market capitalization decreased from May 9 to May 13 as a result of a general bearish market that intensified throughout this period. Increasing interest rates, inflation, and the preference for less volatile assets such as metals were among the economic variables that led to a major selloff of DOGE.
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Meanwhile, recent attention has been drawn to Dogecoin as a result of Elon Musk’s potential purchase of Twitter.
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