Dogecoin loses 70% against Bitcoin during 6 months of celebrity DOGE endorsements


Dogecoin (DOGE) may have landed major proponent Mark Cuban in hot water as it hits its lowest against Bitcoin (BTC) in over half a year.DOGE/BTC 1-week candle chart (Bittrex). Source: TradingView”Now price it in bananas”Data from Cointelegraph Markets Pro and TradingView showed DOGE/BTC trailing at 412 satoshis (0.00000412 BTC) on Oct. 14 — down from highs of 1,284 satoshis (0.00001284 BTC) in April.As Bitcoin outpaces altcoins en masse this month, the pain has been especially intense for Dogecoin investors after months of public campaigning by both Cuban and others, including the world’s richest man, Elon Musk.Nothing has been able to reverse the meme-based cryptocurrency’s fortunes, however, and now, frustrated commentators are even demanding an explanation.Cuban was in line for retribution this week, with podcast host Preston Pysh suggesting that his touting of Dogecoin on U.S. national television at the highs had been — to say the least — misguided.Cuban Coin, measured in BTC…since promoting it to the world on Ellen. @mcuban pic.twitter.com/8LQAECwsmk— Preston Pysh (@PrestonPysh) October 13, 2021

Fellow pundit Peter McCormack joined calls for Cuban to comment on the situation against the latter’s backdrop of criticism of Bitcoin.Twitter users further evoked Cuban’s claim that he would rather own bananas than BTC, poking fun at Dogecoin’s declining purchasing power when measured in the fruit.In August, Cuban stated that he owned less than $500 of DOGE.Has the DOGE had its day?Musk, meanwhile, has moved on to incorporate Dogecoin spin-off cryptocurrencies in his publicity efforts, these likewise seeing huge gains on the back of even the most innocuous comments.Related: Elon Musk’s Tesla is already $1 billion in profit from holding BitcoinOne such coin, Shiba Inu (SHIB), has since seen substantial selling from large-volume investors known as whales.The Tesla CEO did not escape the wrath of Bitcoiners earlier this year, however, with his Dogecoin activities being met with claims of investor manipulation.As Cointelegraph reported, altcoins are tipped for a renaissance once Bitcoin hits its cycle top, this currently slated for the beginning of 2022.

Avatar

Related Articles

- Advertisement -

Latest Articles

bitcoin
Bitcoin (BTC) $ 27,810.45
ethereum
Ethereum (ETH) $ 1,892.65
tether
Tether (USDT) $ 0.998757
bnb
BNB (BNB) $ 315.11
usd-coin
USD Coin (USDC) $ 0.997681
xrp
XRP (XRP) $ 0.480064
cardano
Cardano (ADA) $ 0.377493
staked-ether
Lido Staked Ether (STETH) $ 1,893.60
dogecoin
Dogecoin (DOGE) $ 0.073271
matic-network
Polygon (MATIC) $ 0.926857
solana
Solana (SOL) $ 20.63
tron
TRON (TRX) $ 0.076954
polkadot
Polkadot (DOT) $ 5.45
litecoin
Litecoin (LTC) $ 91.19
binance-usd
Binance USD (BUSD) $ 0.997476
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.56
dai
Dai (DAI) $ 0.998979
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,813.45
uniswap
Uniswap (UNI) $ 5.12
chainlink
Chainlink (LINK) $ 6.59
leo-token
LEO Token (LEO) $ 3.57
cosmos
Cosmos Hub (ATOM) $ 10.84
okb
OKB (OKB) $ 47.16
monero
Monero (XMR) $ 155.28
the-open-network
Toncoin (TON) $ 1.91
ethereum-classic
Ethereum Classic (ETC) $ 18.35
stellar
Stellar (XLM) $ 0.088955
bitcoin-cash
Bitcoin Cash (BCH) $ 116.46
internet-computer
Internet Computer (ICP) $ 4.93
true-usd
TrueUSD (TUSD) $ 0.997921
filecoin
Filecoin (FIL) $ 4.64
lido-dao
Lido DAO (LDO) $ 2.11
aptos
Aptos (APT) $ 8.43
hedera-hashgraph
Hedera (HBAR) $ 0.052581
quant-network
Quant (QNT) $ 109.42
arbitrum
Arbitrum (ARB) $ 1.25
crypto-com-chain
Cronos (CRO) $ 0.060574
near
NEAR Protocol (NEAR) $ 1.63
vechain
VeChain (VET) $ 0.020430
ggtkn
GGTKN (GGTKN) $ 0.112996
apecoin
ApeCoin (APE) $ 3.25
the-graph
The Graph (GRT) $ 0.126333
algorand
Algorand (ALGO) $ 0.152485
the-sandbox
The Sandbox (SAND) $ 0.546480
paxos-standard
Pax Dollar (USDP) $ 0.997156
frax
Frax (FRAX) $ 0.997209
eos
EOS (EOS) $ 0.900331
edgecoin-2
Edgecoin (EDGT) $ 1.00
aave
Aave (AAVE) $ 67.40