The Dogecoin Recovery Could Take Longer Than You Think

Jun 22, 2021 0 comments

Dogecoin (CCC:DOGE-USD), the cryptocurrency that was originally founded as a joke in 2013, has been having a rough time lately. As of June 18, it was trading below 30 cents per token (29.75 cents). This is 56.6% off its peak of 68.477 cents on May 5. Dogecoin is going through a rough patch here, and it could take a while to recover.

Moreover, it looks like Dogecoin’s recent listing on Coinbase (NASDAQ:COIN) exchange couldn’t help its performance. This occurred during the first week of June when Dogecoin started the month at 42.33 cents. It has basically slid 30% in the past several weeks.

In addition, Coinbase, the largest U.S. exchange, said it would give away $1.2 million in Dogecoin. To be eligible for the raffle, you had to buy $100 or more of Dogecoin. But that didn’t help as well. (Full disclosure here — I fell for this promotion and haven’t heard diddly from Coinbase).

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