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The prospects of Elon Musk abandoning Dogecoin would be dire for DOGE price in both Bitcoin and USD terms.

In 2022,  Dogecoin, like any other cryptocurrency, lost almost 60% of its value in one year. On March 9, 2023, the cryptocurrency price was around $0.072, down nearly 90% from the May 2021 all-time high of $0.7376.

Prominent meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] traded in the red as the FUD triggered by the collapse of the crypto-friendly bank, Silvergate, continued to engulf the broader cryptocurrency market.

The meme-inspired cryptocurrency Dogecoin ($DOGE) has recently overtaken Polygon ($MATIC) in terms of market capitalization amid a wide cryptocurrency market sell-off influenced by Silvergate bank winding down. According to market data, Dogecoin currently has a market capitalization of $9.45 billion, whole MATIC has a market capitalization of $9.

Major coins traded in the red on Thursday evening after President Joe Biden's new budget proposal that could potentially levy a 30% tax on electricity costs for cryptocurrency miners. Cryptocurrency Gains(+/-) Price Bitcoin -7.94% $20,027 Ethereum -7.42% $1,424 Dogecoin -9% $0.065 What Happened: Bitcoin (CRYPTO: BTC) quickly regained some of its lost ground late and was hovering at about $20,040, down 7.94% over the past 24 hours.

Elon Musk's admiration for Dogecoin (CRYPTO: DOGE) is no secret. Every time the billionaire and Dogefather tweets about the meme coin, it creates a surge in its value.

Dogecoin price analysis shows a strong downtrend for the cryptocurrency today, as the coin value underwent a noticeable reduction. The ongoing decreasing trend has lowered the cryptocurrency value to a $0.06934 low.

The two most popular dog-themed memecoins have reached a nearly perfect correlation.

Dogecoin and Shiba Inu have had a tough go of it lately. Given that these are digital assets that are largely driven by hype, the decline in interest in the crypto market has greatly affected their performance.

Polygon has declined by 6% during the past day as whales have shown signs of selling. The asset has also been flipped by Dogecoin in market cap.

The Dogecoin price has fallen to $0.071674 today, dropping by 2% in the past 24 hours, as news of Silvergate's voluntary liquidation chips away at the cryptocurrency market's overall value.

Major coins traded in the red on Wednesday evening following reports of President Joe Biden proposing changes to cryptocurrency taxation in an upcoming budget plan. Cryptocurrency Gains (+/-) Price (8:30 p.m.

Major coins traded in the red on Wednesday evening following reports of President Joe Biden proposing changes to cryptocurrency taxation in an upcoming budget plan. Cryptocurrency Gains (+/-) Price (8:30 p.m.

Can the Dogecoin price hit $1? In this Dogecoin price prediction, we list the factors that contribute to such a potential rise.

The strength in the U.S. dollar suggests that the risky assets may remain under pressure in the near term, but Bitcoin and select are showing signs of resilience.

Elon Musk is confident that Twitter could become the biggest financial institution by offering convenient payment options.

In recent days, the price correlation between Shiba Inu and Dogecoin has reached almost 100%, signaling synchronized movement between the two meme coins. This correlation suggests that investors may be moving their funds away from riskier assets, including these meme coins and tokens.

During Asian trading hours on Wednesday, Bitcoin (CRYPTO: BTC) reached a three-week low, dropping to $21,871, while Ethereum (CRYPTO: ETH), the second-largest cryptocurrency, nearly tested Tuesday's low of $1,535. This drop was spurred by U.S. Federal Reserve Chair Jerome Powell's hawkish testimony to Congress, which led traders to price in a higher "terminal rate.

Dogecoin (DOGE) whales transferred more than $654.7 million worth of DOGE in the past seven days alone, according to the crypto analytics firm IntoTheBlock. IntoTheBlock notes that $654.78 million worth of DOGE was transferred in transactions greater than $100,000, indicative of whale trades.

Memecoins were all the rage in 2021. The most noteworthy investor turned $8000 of SHIB into just over $1 billion of value simply by holding throughout the bull market.

The crypto market has come a long way from being limited to only primitive cryptocurrencies such as Bitcoin and Ethereum. The space has been liberal enough to host a plethora of projects from varied sectors with and without utility. Successively, meme coins from the business have garnered the interest of the masses.

Major cryptocurrencies were seen trading in the red Tuesday evening as the global cryptocurrency market cap declined nearly 1% to $1.02 trillion at 9:09 p.m. EST.

Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are all trading lower going into the close of Tuesday's U.S. trading session.

Binance News: The world's largest crypto exchange by market share, Binance, has recently updated its Proof-of-Reserves (PoR) system to add 11 new cryptocurrencies.  These include the likes of 1inch (1iNCH), Mask Network (MASK), Dogecoin (DOGE), and Curve DAO Token (CRV), among others.