Dogecoin price tracking: Crypto drops 40% in a week – current price
DOGECOIN, like numerous other cryptocurrencies, has seen its value plummet in recent days. So, what is the current Dogecoin price?
Over the last few days, cryptocurrency prices have fallen across the board, owing in part to China’s crackdown on cryptocurrency mining and trade. According to CoinDesk data, the meme-based cryptocurrency Dogecoin has decreased in price by more than 40% in the last week.
Dogecoin was priced at $0.321917 on June 15, according to CoinDesk data.
However, as of the evening of June 22, Dogecoin was trading for $0.192202 (£0.137788), a 40.29 percent drop.
According to the site, Dogecoin’s value had plummeted 6.09 percent in the previous 24 hours as of Tuesday evening.
China announced steps to ban cryptocurrency mining last month, adding significant uncertainty in an already turbulent market.
Since then, authorities have taken significant steps to prevent bitcoin mining and trading in the region.
The value of numerous cryptocurrencies fell when electricity was cut to bitcoin mines in China’s Sichuan province, one of the country’s top producers of the cryptocurrency, over the weekend.
China’s central bank announced on Monday that it had summoned seven large banks and payment companies, urging them to take firmer action against cryptocurrency trade.
For the first time in more than five months, bitcoin dipped below $30,000 (£21,509) on Tuesday.
In recent weeks, Bitcoin has been the target of growing regulation and criticism, in addition to developments in China.
Elon Musk, the CEO of Tesla, declared last month that the business will no longer accept bitcoin for vehicle purchases owing to concerns about bitcoin’s environmental impact.
Regulators from all across the world have expressed worries about the unregulated nature of many cryptocurrencies, as well as the risk they bring to investors.
Almost 2.5 million adults in the United Kingdom already own cryptocurrency, up sharply from last year.
More than 100 cryptoasset firms were operating in the UK without registration, according to Mark Steward, the Financial Conduct Authority’s (FCA) head of enforcement and market monitoring, speaking at City & Financial’s City Week event.
“We have a lot of firms that are plainly doing business in the UK without being registered with us and dealing with someone: banks, payment services firms, and consumers,” Mr Steward added.
“We are concerned because this is a very genuine threat.”
“The reason many are.” Brinkwire Summary News, he added.