After Dogecoin rallied by more than 400% last week, it showed a 20% decline on Tuesday, decreasing its market value by about $ 14 billion. Prices also fell to about 31 cents, according to CoinGecko.com.
Nevertheless, its growth has outpaced major global companies such as Ford Motor and Kraft Heinz in terms of market capitalization, and almost caught up with Twitter Inc. This delighted investors, but alarmed some crypto enthusiasts, especially those concerned that it only increases volatility and distracts people from more rewarding endeavors.
At the time of writing, demand for Dogecoin is very high, as a result of which price has risen from 5 cents to 46.6 cents.
And obviously, its growth is not over, so expect many investors to use a downward correction to produce new highs in the market.
