August 5, 2021

Dogecoin price slump continues after Doge co-founder slams cryptocurrencies as ‘scam’ and China clamps down on crypto mining

Dogecoin prices have continued to trend downwards since reaching their most recent peak last month on June 25, when the memecoin appeared to bounce back after the cryptocurrency market was hit hard by the Chinese Government’s pledge to clamp down on the country’s huge crypto mining operations.

The announcement from China’s state authority in June saw prices of all major crypto coins tumble across the board – with Bitcoin fans and investors fearing for the worst when the world’s most popular cryptocurrency crashed and dipped below $30,000 in value.

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Bitcoin prices fall below $30,000 for second time in a month

Particularly, usual trading trends of ‘hodling’ (refusing to sell or exchange cryptocurrency when prices plummet) and ‘buying the dip’ seemed to be under greater strain as the…

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