The trading volume of the “meme” altcoin showed the deepest fall of the top 10 cryptocurrencies by market capitalization
Dogecoin (DOGE) trading volumes fell by more than 90% in the third quarter. This was announced by the EXMO exchange in its quarterly market review.
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According to the published data, the biggest drop was recorded in July. Then DOGE trading fell by almost 75%. It is noteworthy that already in August the volumes increased by 111%, but in September they fell again by 46.3%.
All in all, according to the results of the III quarter, trades with DOGE were in the red by 91.8%. In second place in terms of the drop in trading volume was bitcoin cash, which lost 78.4%. The only token that ended the quarter in positive territory was polkadot (DOT). In three months, DOT trading volumes rose 256.6%.
Despite the significant drop in trading, dogecoin remains the favorite in the market. Since the beginning of the year, the return on investment in DOGE is 4415%. For bitcoin, for example, the annual return was significantly lower – 54.4%.
As noted in EXMO, most cryptocurrencies ended September with negative returns. This means that investors who bought digital assets early last month lost money. The only exception was cosmos (ATOM), which continued its growth that began in August.
“Nevertheless, almost all assets under consideration ended the third quarter in positive territory, for
with the exception of dogecoin, interest in which has clearly subsided against the background of the absence of real shifts in
development of the project and the emergence of similar meme-cryptocurrencies, “- said the exchange.
The August growth of DOGE in terms of trading volumes coincided with the activation of the scam project Turgut V. The editorial staff of BeInCrypto reported that the founder of the project offered Turkish citizens to make money allegedly on investments in Dogecoin mining. The organizer of the scam promised potential victims an income of 100% of the initially invested amount.
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