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The Dogecoin (DOGE) Twitter account with 2.1 million followers has retweeted AMC CEO Adam Aron’s post and tagged billionaires Elon Musk and Mark Cuban to increase the coverage of the meme coin. However, according to metrics, Dogecoin’s popularity is on the decline.

Dogecoin (DOGE) interest drops as no discrete price action is observed

Dogecoin’s official Twitter account recommended that Aron speak to Musk and Cuban, who are also big meme coin supporters. According to the data, the situation of DOGE is still not very good, although it is constantly on the agenda yesterday and today. First, according to CryptoCompare, without discussing the price, the number of daily transactions on their network has dropped to just 18,000. It hit its lowest level since 2017 after peaking at more than 140,000 in April.

The daily transaction rate is one of the key on-chain metrics that reflect blockchain usage. Cryptocoin. com

As we reported , in terms of price, DOGE is down nearly 71 percent from its all-time high of $0.73 on May 8. Also, Google searches for the term “Dogecoin” fell to their lowest level since late January. Search for the keyword “Dogecoin price” hit a 4th bottom on Sept. 22 amid the bear market.

Latest situation in Dogecoin price

While the Dogecoin rally has caused some to see DOGE as a rapidly paddling bubble, it’s still too early to say that the meme coin is a fad. Dogecoin has been around since 2013, has survived two brutal bear market cycles and is back in 2021 stronger than ever.

With a market cap of $28 billion, Dogecoin ranks 10th among the top 100 cryptocurrencies by market cap. The meme-coin has gained 5.1% in the last 24 hours. It has decreased by 11.1% in the last 7 days, by 14.3% in the last 14 days, and by 30.9 percent in the last 30 days. Still, its year-on-year valuation is pretty dazzling – the cryptocurrency has soared 8.207 percent in a single year.


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Michael Lewis

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