{"id":177903,"date":"2021-02-14T02:58:00","date_gmt":"2021-02-13T23:58:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/why-is-dogecoin-dropping-the-crypto-has-tumbled-20-since-its-monday-record\/"},"modified":"2021-02-14T02:58:00","modified_gmt":"2021-02-13T23:58:00","slug":"why-is-dogecoin-dropping-the-crypto-has-tumbled-20-since-its-monday-record","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/why-is-dogecoin-dropping-the-crypto-has-tumbled-20-since-its-monday-record\/","title":{"rendered":"#\n  Why is dogecoin dropping? The crypto has tumbled 20% since its Monday record"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35d4fd4b1d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35d4fd4b1d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/why-is-dogecoin-dropping-the-crypto-has-tumbled-20-since-its-monday-record\/#Is_dogecoins_rally_over_The_asset_is_technically_in_a_bear_market\" >Is dogecoin\u2019s rally over? The asset is technically in a bear market<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/why-is-dogecoin-dropping-the-crypto-has-tumbled-20-since-its-monday-record\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Why is dogecoin dropping? The crypto has tumbled 20% since its Monday record<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Is_dogecoins_rally_over_The_asset_is_technically_in_a_bear_market\"><\/span>\n  Is dogecoin\u2019s rally over? The asset is technically in a bear market<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000165763\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       A doge\u2019s breakfast?  <\/p>\n<p> The popular dogecoin crypto asset, engineered as a joke back in 2013, has tanked over the past week after reaching a record value on Monday, leaving few investors laughing.  <\/p>\n<p>Dogecoin, at last check, was trading at 0.06784 cent, down over 20% from its Feb. 7 record high of 0.087159, according to data from CoinDesk. That decline meets the commonly used criteria among Wall Street chart watchers and technical analysts for a bear market. <\/p>\n<div class=\"paywall\">\n       <strong>Read:<\/strong> Dogecoin? A lot of \u2018retail punters are going to lose money,\u2019 says crypto expert<\/p>\n<p>It isn\u2019t clear where the crypto is headed from here, it is still up by about 50% over the past seven-day period and enjoys an eye-popping 1,350% gain since the start of 2021, boasting a market value of $8.7 billion, as of Friday afternoon. That ranks dogecoin just outside the top 10 cryptos, with bitcoin<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"positive\">+0.30%<\/bg-quote><br \/>\n       atop the leaderboard with a market value surpassing $880 billion.  <\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span><br \/>\n        \u2018People are moving markets en masse and are playing greater fool with each other without understanding the ramifications or their own psychological limitations.\u2019<br \/>\n        <span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span><\/p>\n<p>        <small><br \/>\n          <span class=\"inset-author article__inset__pullquote__author\">\u2014 Charles Hayter, CEO of London-based research site CryptoCompare<\/span><br \/>\n        <\/small><\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.640625%;\" data-mobile-ratio=\"66.640625%\" data-layout-ratio=\"66.640625%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-298816?width=140&amp;size=1.5005861664712778 140w,\nhttps:\/\/images.mktw.net\/im-298816?width=540&amp;size=1.5005861664712778 540w,\nhttps:\/\/images.mktw.net\/im-298816?width=620&amp;size=1.5005861664712778 620w,\nhttps:\/\/images.mktw.net\/im-298816?width=700&amp;size=1.5005861664712778 700w,\nhttps:\/\/images.mktw.net\/im-298816?width=860&amp;size=1.5005861664712778 860w,\nhttps:\/\/images.mktw.net\/im-298816?width=1260&amp;size=1.5005861664712778 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-298816?width=620&amp;size=1.5005861664712778\" data-enlarge=\"https:\/\/images.mktw.net\/im-298816?width=1260&amp;size=1.5005861664712778\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       Doge\u2019s rally got started on the back of a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of bullish, albeit sometimes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1359519541219500033\" class=\"icon none\">cryptic tweets<\/a> from Tesla Inc.<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/composite\" class=\"positive\">+0.55%<\/bg-quote><br \/>\n       Chief Executive Elon Musk. <\/p>\n<p> A number of celebrities including, Calvin Broadus, otherwise known as Snoop Dogg, and Gene Simmons of the rock band Kiss joined Musk\u2014as well as\u00a0billionaire investor Mark Cuban\u2014have been tweeting about investing in dogecoin. <\/p>\n<p>On <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a>\u2019s popular <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reddit.com\/r\/SatoshiStreetBets\/\" class=\"icon none\">SatoshiStreetBets chat forum<\/a>, some expressed a hope to push dogecoins value to $1.<\/p>\n<p>However, crypto experts have warned that dogecoin, pronounced \u201cd\u014dj-coin\u201d and commonly associated with a popular\u00a0meme featuring a shiba inu\u00a0dog, has limited utility compared with other decentralized cryptographic assets, including bitcoin. <\/p>\n<p>Dogecoin co-founder Billy Markus told<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/amc-gamestop-stock-market-updates\/card\/Cr8nEItQpzoscvRx9GRi?mod=mktw\" class=\"icon none\">\u00a0The Wall Street Journal<\/a>\u00a0in an article at the beginning of February that he created the asset in 2012 as a \u201clighthearted cryptocurrency,\u201d then known as Bells, to serve as the fun version of bitcoin.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>In an<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reddit.com\/r\/dogecoin\/comments\/lfl5iz\/true_value_an_open_letter_from_billy_markus\/\" class=\"icon none\">\u00a0open letter on Reddit\u00a0<\/a>this week, Markus also wrote about the cryptocurrency.<\/p>\n<p>\u201cIt went from a silly joke to something worth something to people very quickly, and a community was developing fast, with lots of shady people and lots of new people, quickly putting up services and infrastructure around it,\u201d the co-founder wrote.<\/p>\n<p>Nic Carter, a crypto and blockchain venture capitalist who founded Castle Island Ventures, on CNBC earlier in the week cautioned that average investors could be badly hurt by making speculative bets on an asset with no real purpose. He also found it quizzical that Musk would support the virtual asset. <\/p>\n<p>\u201cIt\u2019s somewhat disconcerting to see Elon Musk so enthusiastic about it,\u201d the Castle Island co-founder said.\u00a0<\/p>\n<p>Bullish bitcoin investors make the case that price gains in bitcoin, the world\u2019s No. 1 cryptocurrency, are supported by the limited supply of the crypto that is inherent in its code. Only 21 million bitcoin will ever exist, and so-called mining for bitcoin, or solving complex computational problems that are rewarded by bitcoin, become harder as time goes on. The final cache of bitcoins likely aren\u2019t going to be mined until around 2140.<\/p>\n<p>The supply of dogecoin, on the other hand, has no built-in limit, with the number of dogecoin that can be mined at any given time varying from one to hundreds of thousands.<\/p>\n<p>Nonetheless, interest in dogecoins underscores the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite for alternative assets in an environment where 0% interest rates are prevalent as governments around the world attempt to mitigate the economic harm from the COVID-19 pandemic.<\/p>\n<p>Charles Hayter, CEO of London-based research site CryptoCompare, told MarketWatch earlier this week that investors need to apply caution to such investments like dogecoin. <\/p>\n<p> \u201cPeople are moving markets en masse and are playing greater fool with each other without understanding the ramifications or their own psychological limitations.<\/p>\n<\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D28783BE70C5%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Why is dogecoin dropping? The crypto has tumbled 20% since its Monday record &#8221; Is dogecoin\u2019s rally over? The asset is technically in a bear market A doge\u2019s breakfast? The popular dogecoin crypto asset, engineered as a joke back in 2013, has tanked over the past week after reaching a record value on Monday,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":177904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-177903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=177903"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/177904"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=177903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=177903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=177903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}