June 3, 2023

Dogecoin Trades Flat To Start 2022: Is ‘Pumping’ From Elon Musk Only Way To Ensure A ‘Happy New Year?’ – Dogecoin – United States Dollar ($DOGE)

Dogecoin (CRYPTO: DOGE) traded mostly unchanged early Monday morning at press time.

What’s Moving? The meme cryptocurrency fell 0.04% at $0.17 over 24 hours. For the week, the coin plunged 9.35%.

DOGE rose 0.4% against the apex cryptocurrency, Bitcoin (BTC), and fell 1.7% against Ethereum (ETH) over 24 hours. 

Over the last 30 days, DOGE has risen 7%, while it has declined 27.65% over a 90-day time frame.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE traded in the red with BTC at press time as the global cryptocurrency market cap inched up 0.1% to $2.24.

DOGE was the fourth most mentioned cryptocurrency on Twitter. It attracted 1,745 tweets at press time, according to Cointrendz data.

The three most discussed coins were Bitcoin, Ethereum, and DOGE-rival Shiba Inu. They attracted 8,735, 4,420, and 1,964 tweets, respectively. 

The hotly-anticipated year-end bull market, or Santa rally, did not materialize as the market was anticipating the delayed enforcement of China’s cryptocurrency ban to play out, according to Ballet Crypto CEO Bobby Lee on Sunday. 

On New Year’s Day, Christopher Vecchio, a market analyst from Forex analysis website DailyFX, said DOGE was unlikely to rally in 2022 and that he would be surprised if either DOGE or SHIB “have a good year unless someone like Elon Musk is pumping them on Twitter.”

Even so, DOGE’s popularity on Reddit outstripped even that of Bitcoin’s in 2021. The most upvoted posts on Reddit last year were about DOGE.

Meanwhile, DOGE’s community spirit was on display at the beginning of 2022 as TeamSeas, a fundraising campaign initiated by YouTubers Mark Rober and Mr.Beast raised $30 million to remove 30 million pounds of trash littering the world’s water bodies.

DOGE co-creator Billy Markus noted that the DOGE community donated 163428 DOGE worth nearly $27782 towards the effort.

Read Next: Mozilla Now Accepting Donations In Dogecoin, Users Threaten To Quit Using Firefox In Response

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