NEWS

Dogecoin loses 70% against Bitcoin during 6 months of celebrity DOGE endorsements

Dogecoin (DOGE) may have landed major proponent Mark Cuban in hot water as it hits its lowest against Bitcoin (BTC) in over half a year.

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

“Now price it in bananas”

Data from Cointelegraph Markets Pro and TradingView showed DOGE/BTC trailing at 412 satoshis (0.00000412 BTC) on Oct. 14 — down from highs of 1,284 satoshis (0.00001284 BTC) in April.

As Bitcoin outpaces altcoins en masse this month, the pain has been especially intense for Dogecoin investors after months of public campaigning by both Cuban and others, including the world’s richest man, Elon Musk.

Nothing has been able to reverse the meme-based cryptocurrency’s fortunes, however, and now, frustrated commentators are even demanding an explanation.

Cuban was in line for retribution this week, with podcast host Preston Pysh suggesting that his touting of Dogecoin on U.S. national television at the highs had been — to say the least — misguided.

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