It's been a rough few days for crypto prices after several weeks of upward strides, with Dogecoin losing nearly a quarter of its value over the past seven days as the recently surging Bitcoin and XRP mark their own substantial—but less severe—declines.
Dogecoin’s price is currently $0.31. Data from CoinGecko shows that the coin has fallen by nearly 5% in the past day. The market capitalization of the meme currency, which was the first, remains the highest.
DOGE had ticked back up to nearly $0.35 early Saturday after plummeting as low as $0.267 on Friday—the lowest price marked in more than a month. The weekend saw a decline in the price of DOGE.
Since its December peak of $0.48, the coin has been down by a substantial amount. Dogecoin reached a new three-year peak.
Memecoins are notoriously volatile. Dogecoin is not the only meme coin that has experienced a steep drop. Shiba Inu (SHIB) has mirrored Dogecoin's losses with a 23% dip this week.
Bitcoin has fallen more than 7 percent this week to a price of $95,140. It’s also dropped 12% over the past five days after hitting an all-time record high above $108,000. The price of XRP dropped by nearly 9% last week. It is now trading at $2.21. That’s a substantial drop since it reached a record high earlier in the month.
Dogecoin is the only coin that has dropped more than 16% in value this week amongst top 10 cryptos by market capital. Other contenders include Ethereum, which has lost 18% and Cardano, who has lost 19%.