While The Prices Of Other Cryptocurrencies Declined, Dogecoin Increased By 160%

Recently, cryptocurrency performance looks like some kind of bad joke: the total value of all cryptocurrencies fell below $ 200 billion over the weekend, down 76% from a record high of $ 832 billion in January.

While tokens such as bitcoin continue to fall in price, the open-source digital currency Dogecoin rose more than 160% last month.

The price of Dogecoin rose to the level of $0.003 per day trading volume of the altcoin rose almost six times — from $5 million to $28 million. Of the top 100 digital money only seven are in the “green zone”, the rest lost about 10% in a day.

Having appeared on the market in 2013 as a game on the once puppy meme Doge, the company at one point reached a market value of more than $1 billion in early January and continues to demonstrate a profitable growth.

But how does altcoin, which as of January hasn’t updated its software in more than 2 years, continue to stay in full swing? One of the main theories is that his winnings are the result of being added to the popular Robinhood app as a currency available for trading in mid-July.