With a bearish market, the canine-themed meme coin Dogecoin suffered a major decline in trading volume. Investor interest also dramatically waned starting December 2021.
Further, there was a huge 66% slump in trading volume from January to March of 2021. Things got even worse in February when Russia invaded Ukraine.
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DOGE Slumps from 2021
In January this year, Dogecoin’s trading volume was at $33.51 billion. Comparatively, the trading volume in February 2022 dropped further to $22.44 billion.
The trading price of Dogecoin started at $0.1705 on January 1 and this closed Q1 at $0.1378. That is a nearly 20% drop between DOGE’s opening and closing price in the first quarter. Today, the DOGE price has dropped by 3.1% with a trading volume of $0.13569.
DOGE is now ranked 11th among the top 20 cryptocurrencies, with a market cap of $18 billion. (Image credit: The Scotsman)
When the Bitcoin price declines (BTC is down at 4.4% today), its peers or other altcoins also suffer a major drop. Call i ..
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 Trading Volume Plunges – Here’s Why){kind=link}