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Dogecoin has experienced a phenomenal run over the past few months. Its price is up by more than 5,500% since the beginning of the year. Over the past 12 months, it has shot up by more than 12,800%.
That type of growth is unmatched by Dogecoin’s competitors. Since the beginning of the year, Bitcoin is up by around 37%, and Ether’s price has increased by around 250%.
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Despite its monumental gains, however, Dogecoin has had a rough month. It has lost nearly half its value in a matter of weeks, with its price sinking by nearly 70% since reaching its peak on May 10. Volatility is normal in the crypto market, and many investments can recover from downturns. It remains to be known when this price correction will end, but those who hold on to their assets will have the last laugh in the long run.
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