Dogecoin (CRYPTO: DOGE) was trading 3.62% lower at $ 0.32 in the early hours of Tuesday.
What’s in motion?
The cryptocurrency was trading 27.24% higher on a seven-day basis at press time. DOGE rose 0.12% and 0.7%, respectively, within 24 hours Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).
Since the beginning of the year, DOGE has grown by an impressive 5,620.34%.
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Why is it moving?
DOGE’s decline goes hand in hand with that of other major cryptocurrencies like BTC, ETH, and Cardano (CRYPTO: ADA), all of which were in the red at the time of publication.
At the time of going to press, DOGE was featured on the social media platform of Twitter Inc. (NYSE: TWTR), as shown by data from Cointrendz.
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On Monday, the on-chain data analytics company said Chainalysisthat DOGE is attracting new investors at a level not seen since the bull market at the end of 2017.
Chainalysis chief economist Philip Gradwell said that 37 billion DOGE are owned by just 31 investors: “That’s an average of over 1 billion doges per investor,” he said.
Shark Tank host and Dallas Mavericks owner Mark Cuban also revealed Monday that he owns approximately 1,470 DOGE. This revelation caused some to poke fun at the billionaire.
In the meantime, Billy Markus, the co-inventor of DOGE, has put up for sale a non-fungible token or NFT version of his “10 Commandments” for the Meme Coin community, which he wrote in 2014.
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