Several Dogecoin (CRYPTO: DOGE)-inspired coins were seen crashing at press time leading up to Monday evening.
| Cryptocurrency | 24-Hour % Change (+/-) | Price |
|---|---|---|
| Dogecoin (DOGE) | -14.9% | $0.10 |
| Shiba Inu (SHIB) | -22.1% | 0.0000145 |
| Shiba Predator (QOM) | -40.1% | $0.00000009 |
| Lucky Doge (LUCKYDOGE) | -38% | $0.0000037 |
| Baby Doge (BabyDoge) | -18.4% | $0.0000000014 |
| Dogelon Mars (ELON) | -12.8% | $0.0000007 |
| TeddyDog (TDG) | -92.8% | $0.000000001299 |
What’s Happening?
The decline in the DOGE-knockoffs took place amid a widespread rout in the markets at press time. The global cryptocurrency market cap decreased 10.4% to $1.4 trillion.
Bellwether meme coin DOGE dropped nearly 15% at press time over 24 hours to 10 cents. A strong 141% rise in 24-hour trading volumes of DOGE took place simultaneously. At press time, the 24-hour trading volume was $1.68 billion.
At press time, according to Coinglass data, $15.12 million worth of DOGE futures were liquidated as the meme coin dropped sharply.
Shiba Inu, a self-described DOGE-killer, was seen trending on CoinMarketCap at press time and was down nearly 22% at press time.
Markets Down On Recession Worries
OANDA Senior Market Analyst Edward Moya said growth and recession worries have created a “very difficult environment” for cryptocurrencies.
Reactions On The Web
The official Twitter handle of Baby Doge noted the erosion in the markets but tweeted out a positive message.
Crypto maybe down but the impact we can make today remains.
— Baby Doge (@BabyDogeCoin) May 9, 2022
Proud to see a difference being made possible by #BabyDogeArmy & @AnimalLeague pic.twitter.com/zYY3kBHG6n
Shiba Predator took aim at DOGE in a Tweet on Monday through a meme.
When it comes time to sink or swim, the $QOM always rises to the top. #flipshiba pic.twitter.com/5039Q0CLxZ
— QOM - Shiba Predator (@ShibaPredator1) May 8, 2022
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