Dogecoin (CRYPTO: DOGE) traded down 2.13% to $ 0.16 on a 24-hour basis until early Monday morning.
What is moving? The cryptocurrency itself fell 0.83% over a seven-day period.
Against the major cryptocurrencies, Bitcoin and Ethereum, DOGE fell 1.55% and 0.18% over 24 hours, respectively.
Since the start of the year, DOGE has climbed 2,804.75% on a 24-hour basis. It has fallen 29.99% over a 90-day period and has lost 35.68% of its value in the past 30 days.
DOGE hit an all-time high of $ 0.74 in May. At time of printing, it was trading 77.63% below this level.
See also: How to buy Dogecoin (DOGE)
Why is it moving? DOGE traded lower in tandem with other major coins, as the global cryptocurrency market cap fell 0.91% to $ 2.24 trillion.
DOGE was included in the “Top 10 Mentions” list on Twitter compiled by Cointrendz at press time. It drew 1,492 tweets.
The first three coins mentioned were Bitcoin, Solana, and Ethereum. They attracted 8,356, 4,236 and 3,719 tweets respectively.
Some cryptocurrency analysts are calling a Bitcoin fund even as concerns about Omicron, the latest variant of COVID-19, persist.
The key support level for DOGE is 16 cents, as it faces resistance above 19 cents and 21 cents, wrote Melanie Schaffer of Benzinga.
Dogecoin-focused Twitter handle Mishabar said on Twitter that the main concern with the coin meme was the low number of trades made rather than the price action.
Mishabaar’s tweets caught the attention of Dogecoin lead developer Ross Nicoll who said if the empty block concern went away, that would be good.
Also, the concern of empty blocks (which are just blocks with no overflow from the previous block) would go away, which would be nice. https://t.co/rSu2tA6IMF
– Ross Nicoll (@JRossNicoll) 12 December 2021
Meanwhile, Bull Dogecoin and Tesla Inc (NASDAQ: TSLA) CEO Elon musk indicated support for a Cybertruck electric vehicle sporting a DOGE logo over the weekend.
Musk agreed with Dogecoin co-creator on Sunday Billy Markus on Twitter that dogs are awesome.
– Elon Musk (@elonmusk) 12 December 2021
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