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Dogecoin cryptocurrency slumps after hashtag-fueled surge to record high

Dogecoin's rise came during a surge in online trading of stocks and crypto by retail investors, stuck at home with extra cash because of the Covid-19 pandemic

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cryptocurrencies | cryptocurrency

Reuters  |  LONDON/NEW YORK 

By Anna Irrera, Tom Wilson and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) - Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam. Dogecoin ultimately fell 15.4% to US$0.33, but during the session when it hit a record peak, its market capitalization soared to more than $50 billion. After the slump, its market cap dropped roughly $45 billion, according to coinmarketcap.com. By comparison, the wildly popular bitcoin has a ...

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First Published: Wed, April 21 2021. 09:18 IST
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