Why is Dogecoin Slipping Again?

Dogecoin has been slipping over the past few months, and Friday morning was no different. The token has remained on the most mentioned tokens on Twitter ($TWTR@US), but that has not equated to increased value. The global crypto market cap fell another 5.5% overnight, forcing certain tokens—like Dogecoin—to take the fall. In the past 24 hours, Dogecoin lost more than 4%, almost 7% in the past 7 days, and almost 15% in the past 30 days. Even so, it managed to gain more than 2% on Bitcoin and more than 1% on Ethereum. Interestingly, some crypto influencers believe that Twitter controls which tokens can trend by favoring massive spikes in the price instead of steady growth, leading to a downturn for Dogecoin’s social media exposure. The Dogecoin community is focused less on speculation and more on use cases and having a good time, which may color its pricing a bit. At press time, Dogecoin was down more than 3.5%, sitting at 13.83 cents on increasing volume and a decreasing market cap.