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Despite the Price Drop, Dogecoin Remains One Of The Most Used Smart Contract

Dogecoin Still Being Used Despite Price Drop

Dogecoin continues to be among the smart contracts that people use the most when it comes to the 500 BSC whales. These statistics are published by WhaleStats.

Currently, there is increased volatility in the market. As a result, in the previous 24 hours, Dogecoin has declined by over 8%. Over a year ago, Dogecoin was trading near its all-time highs of $0.73 after a previous run-up in the preceding months. Elon Musk’s participation in “Saturday Night Live” corresponded with Tesla’s all-time highs. Afterward, the price of Dogecoin decreased by more than 40%.

Dogecoin’s Price Drop

In terms of market value, Dogecoin is now trading at $0.117, down more than 80% from its all-time high established in May 2021. Despite the steep decline in value, Dogecoin’s adoption as a means of payment continues to grow. This growth is seen in major global firms, including AMC, Tesla, Newegg, and SlingTV. They now accept DOGE as a payment method.

Following on, 455 million WordPress websites now accept Dogecoin using the WooCommerce plugin “Easy Dogecoin Gateway.” Meanwhile, DOGE supporters believe that Jeff Bezos is following the Dogecoin creator Billy Markus. According to DOGE fans, this suggests that Bezos is warming up to Dogecoin.

Additionally, Dogecoin has been listed on a number of cryptocurrency exchanges. The most recent one is the Mexican exchange Bitso, which supports Dogecoin. Dogecoin experienced a remarkable event in April when the first transaction sent without internet was sent using RadioDoge.

Robinhood holds 40.7 billion DOGE

Dogecoin is still held by the popular software Robinhood. According to DogeWhaleAlert, the clients of Robinhood are the reason why it is still holding Dogecoin.

Moreover, DogeWhaleAlert indicates that the Robinhood app currently holds a total of 40,7 billion DOGE. With the current price, this makes it a portfolio with a value of more than $5 billion. This also represents a massive 30% of the total circulating supply of the leading meme cryptocurrency.

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