Dogecoin [DOGE] and its bearish trend persisted despite expectations for July. At press time, DOGE dipped to $0.1116 following a 6.72% drop over the last 24 hours. Earlier today, the meme coin plummeted as low as $0.1103. While most of the assets in the market hit new all-time highs over the last couple of months, DOGE struggled. The asset is currently 84.9% below its all-time high of $0.7376 which was achieved on May 8, 2021.
Amidst this, Dogecoin saw over $4 million in liquidations in one day. Dogecoin leads the meme currency liquidation pack, according to data from CoinGlass. Even if the $4.92 million liquidation amount in a day is less than the $90.06 million for Bitcoin [BTC], it is still a noteworthy amount for DOGE. At the liquidation threshold, long traders have accounted for $4.87 million of the 41,554,054 DOGE that have been liquidated thus far.
Also Read: List of Celebrities That Have Invested in Dogecoin
Dogecoin Co-Founder Reacts
Billy Markus, the co-founder of Dogecoin who goes by Shibetoshi Nakamoto on X, wrote a tweet that encapsulates his current thoughts on Bitcoin as it has fallen sharply below the $60,000 mark. The co-founder of Dogecoin responded to the sharp decline in Bitcoin by saying, “Bitcoin dammit.”
Markus owns 0.006 BTC, according to his tweets, and he recently weighed in on the debate on X about whether it’s better to have one Dogecoin or one full Bitcoin. This may have come as a surprise to the DOGE community, but Shibatoshi Nakamoto stated that he would rather have one BTC than one DOGE.
Will DOGE Recover This Weekend?
According to Changelly, the asset might record a slight surge from its current price level. The platform noted that Dogecoin will trade at around $0.117331 on Saturday and $0.11690 on Sunday.
Also Read: Dogecoin: Can $1000 Worth Of DOGE Become $1 Million in 2030?