The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Dogecoin

Dogecoin Price Drops Almost 10% Following China’s Crypto Ban

by Miki 09/24/2021
by Miki 09/24/2021 0 comment

Dogecoin’s price has dropped almost 10% following China’s statement that crypto transactions and services are illegal in the nation.

As China Declares Crypto Transactions Illegal, Dogecoin Plunges Almost 10%

According to a report from Bloomberg, China’s central bank has put out a statement saying that all crypto transactions and services are illegal in the country.

The central bank, called The People’s Bank Of China (PBOC), has announced that the ban includes activities like derivatives trading and exchange services offered by offshore organizations.

Following the news, most of the cryptos have noticed a sharp drop in their price as investors panic sell. Dogecoin’s price has tanked almost 10%.

Here is a chart showing the trend in the price of the coin over the last day:

Bitcoin Price Chart

DOGE's price crashes down in response to China's crypto ban | Source: DOGEUSD on TradingView

As you can see in the above graph, Dogecoin’s price was around $0.222 before the announcement, but it dived down sharply all the way to a $0.196 bottom after.

Related Reading | Mid-Cap Altcoins Hold Onto Highs Better Than Bitcoin And Ethereum

Since then, DOGE has recovered a bit as its price is now around $0.202. Though, it’s not clear at the moment if that was it for the crash or if the price will move further down.

Bad Month For DOGE As Coin Loses Over 36% In Value

It has been a pretty bad month for Dogecoin as the crypto has seen many moves down in the period leading to a loss of over 36% in value.

The below chart highlights how DOGE’s price has changed during this period:

Dogecoin Price

Dogecoin keeps on falling off before a significant recovery can be made | Source: DOGEUSD on TradingView

During this period, DOGE has also lost significant trading volume as the coin has fallen down to the number 10 cryptocurrency in terms of market cap.

Related Reading | Bitcoin.org Hacked By Scammers For A Few Minutes. Someone Sent Them 0.4 BTC

Here is a table showing the top 10 coins by market capitalization:

Dogecoin Market Volume

DOGE is now last in the top 10 crypto list | Source: coinmarketcap

As you can see in the table, Dogecoin’s market cap has declined to just $26 billion. Although this figure is $11 billion clear of the 11th largest cryptocurrency, DOGE’s place in the top 10 list could still be in danger if the coin keeps on declining like this.

The recent state of the memecoin has made some believe it could be losing steam as its daily transactions count has also dropped to levels not seen since 2017. This shows a lack of trading activity on the blockchain that hasn’t been seen since 4 years.

Some others believe that the meme status of Dogecoin means it will once again explode in popularity and make a come back eventually.

Featured image from Unsplash.com, charts from TradingView.com

Source link

Views: 2
BanChinasCryptoDogecoinDropsprice
Share
0
FacebookTwitterPinterestEmail
previous post
Cross-chain Stablecoin Protocol BabelFish Launches on RSK
next post
Ethereum Steers into Support, Time For A Return to ATHs?

Related Posts

Not a Whale, Not a Representative – Dogecoin...

12/28/2021

Crypto Flipsider News – ETH Outflow at 4-Year...

12/28/2021

Shiba Inu Is the Most Viewed Crypto in...

12/28/2021

Elon Musk Tells TIME Magazine Why Dogecoin is...

12/28/2021

Susan G. Komen Organization Now Accepts BTC, ETH,...

12/27/2021

Dogecoin Co-founder Billy Marcus Reveals Today How Many...

12/27/2021

Bitcoin Has Proven Itself, Says Billionaire Ray Dalio

12/27/2021

Dogecoin Prediction for 2022, Which Crypto Might Outshine...

12/27/2021

Shiba Inu Price Prediction For 2022 By DailyCoin

12/27/2021

Dogecoin (DOGE) Foundation Is Working with Buterin in...

12/27/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Ethereum Layer 2 Project Boba Network Hits $1B Locked

  • Bitcoin Starts Recovery, Why Close above 100 SMA Is Important

  • 5 of the Top Debit Cards to Start Using Crypto With Ease

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Mining (0)
  • Ripple (149)
  • Uncategorized (0)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,760.001.38%
  • ethereumEthereum(ETH)$1,966.96-0.53%
  • tetherTether(USDT)$1.00-0.04%
  • binancecoinBNB(BNB)$330.142.26%
  • usd-coinUSD Coin(USDC)$1.000.11%
  • rippleXRP(XRP)$0.400231-1.73%
  • Binance USDBinance USD(BUSD)$1.00-0.13%
  • cardanoCardano(ADA)$0.52-0.31%
  • SolanaSolana(SOL)$48.67-1.99%
  • polkadotPolkadot(DOT)$10.071.77%
  • dogecoinDogecoin(DOGE)$0.083762-0.63%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,728.001.28%
  • Lido Staked EtherLido Staked Ether(STETH)$1,923.01-0.58%
  • tronTRON(TRX)$0.081003-1.76%
  • AvalancheAvalanche(AVAX)$28.29-1.72%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.21%
  • daiDai(DAI)$1.00-0.02%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$69.22-0.95%
  • CronosCronos(CRO)$0.1869650.02%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.880.26%
  • matic-networkPolygon(MATIC)$0.640.10%
  • HederaHedera(HBAR)$0.389473-3.44%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.82-0.23%
  • FTX TokenFTX Token(FTT)$29.56-0.34%
  • bitcoin-cashBitcoin Cash(BCH)$192.18-0.31%
  • RareRare(RARE)$0.0461220.00%
  • moneroMonero(XMR)$201.114.38%