The cryptocurrency market continues its lackluster performance following the crash on Monday, Apr. 7. The global crypto market cap has dipped 3.9% in the last 24 hours to $2.55 trillion after climbing to $2.7 trillion on Tuesday, Apr. 8. Dogecoin (DOGE) experienced a 10% rally on Tuesday but has since faced another correction. The original memecoin is down 2% in the daily charts, 12.7% in the weekly charts, 24.5% in the 14-day charts, 14.9% in the monthly charts, and 25.5% since April 2024.
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Regardless of The Crash, $650 In Dogecoin Becomes $1 Million Today
According to the data on CoinGecko, DOGE hit an all-time low of $0.0000869 on May 6, 2015. If you purchased $650 worth of the memecoin when it was at its lowest, the investment would have been worth $1.03 million today. Your money would have grown by 158,642.58%.
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Dogecoin (DOGE) hit an all-time high of $0.7316 on May 8, 2021. If you had sold the $650 worth of the memecoin when it was at its peak, you would have made $4.91 million. In this scenario, your investment would have grown by 756,170.05%.
When Will The Memecoin Recover?
DOGE and the cryptocurrency market are suffering the consequences of the global tariff war. Global stock markets have also experienced a massive dip over the last few days. President Trump has said he would slap an additional 104% tariff on China if Beijing does not revoke its 34% retaliatory tariff on the US. The move may have spooked investors even further.
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Dogecoin (DOGE) and the larger crypto market will likely not recover until the tariff war is settled. Many countries have reached out to the US to discuss a way out of the current predicament.