After surging last week, Dogecoin’s value has dropped by 12.4% over the past seven days.

The initial increase in value happened due to the Dogecoin name’s resemblance to Dogechain. This is a Polygon platform, that enables developers to create applications on Dogecoin in a similar fashion as when working on Ethereum.

However, as soon as it was revealed that Dogechain was not actually affiliated with Dogecoin, the meme-coin’s price quickly dropped. According to CoinMarketCap, it is currently trading at $0.06. During the past 24 hours, more than $1.5 million worth of DOGE trades has been liquidated.

DOGE fans, including Elon Musk, will have to keep waiting for their favorite coin’s rehabilitation.


  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didnโ€™t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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