Within 6 months of celebrity DOGE endorsement, Dogecoin lost 70% against Bitcoin

Dogecoin (dog) May put the main supporter Mark Cuban into trouble because its exchange rate against Bitcoin fell to its lowest point (Bitcoin) More than half a year.

DOGE/BTC 1-week candlestick chart (Bittrex). Source: TradingView

“Now use bananas for pricing”

Data from Cointelegraph Markets Pro with Transaction view It shows that DOGE/BTC fell to 412 satoshis (0.00000412 BTC) on October 14-lower than the April high of 1,284 satoshis (0.00001284 BTC).

With Bitcoin as a whole surpassing altcoins this month, the pain for Dogecoin investors has been particularly severe after months of public campaigns in Cuba and others (including the world’s richest man Elon Musk).

However, nothing can reverse the fate of cryptocurrencies based on memes, and now, frustrated commentators even demand explanations.

Cuban will be retaliated this week, podcast host Preston Pisch hinted that his touting To say the least, the Dogecoin at the high point of National Television was misled.

Senior expert Peter McCormack also called on Cuban to comment on the situation in the context of the latter’s criticism of Bitcoin.

Twitter users further evoked Kuban’s statement that he would But to own bananas Compared with BTC, it is fun to measure the purchasing power of Dogecoin by fruit.

August, Cuba statement He owns less than $500 in DOGE.

How is DOGE?

At the same time, Musk has begun to incorporate Dogecoin-derived cryptocurrencies into his propaganda work. These also see Huge gain Even the most harmless comment.

related: Elon Musk’s Tesla has profited $1 billion from holding Bitcoin

One such coin, Shiba Inu (SHIB), has been seen Massive sell-off From a large number of investors called whales.

However, Tesla’s CEO did not escape the anger of Bitcoiners earlier this year, and his Dogecoin activities suffered Claim Investor manipulation.

As Cointelegraph Report, Once Bitcoin reaches the top of its cycle, altcoins are expected to revive, which is currently expected in early 2022.