Dogecoin (DOGE) Knockoffs Crash Heavily — One Down 93%

Several Dogecoin DOGE/USD-inspired coins were seen crashing at press time leading up to Monday evening.

Top 24-Hour Movement For Dogecoin/Dogecoin-Inspired Coins (Data via CoinMarketCap)
Cryptocurrency	24-Hour % Change (+/-)	Price
Dogecoin (DOGE)	-14.9%	$0.10
Shiba Inu (SHIB)	-22.1%	0.0000145
Shiba Predator (QOM)	-40.1%	$0.00000009
Lucky Doge (LUCKYDOGE)	-38%	$0.0000037
Baby Doge (BabyDoge)	-18.4%	$0.0000000014
Dogelon Mars (ELON)	-12.8%	$0.0000007
TeddyDog (TDG)	-92.8%	$0.000000001299

What’s Happening?

The decline in the DOGE-knockoffs took place amid a widespread rout in the markets at press time. The global cryptocurrency market cap decreased 10.4% to $1.4 trillion.

Bellwether meme coin DOGE dropped nearly 15% at press time over 24 hours to 10 cents. A strong 141% rise in 24-hour trading volumes of DOGE took place simultaneously. At press time, the 24-hour trading volume was $1.68 billion.

At press time, according to Coinglass data, $15.12 million worth of DOGE futures were liquidated as the meme coin dropped sharply.

Shiba Inu, a self-described DOGE-killer, was seen trending on CoinMarketCap at press time and was down nearly 22% at press time.

Markets Down On Recession Worries

OANDA Senior Market Analyst Edward Moya said growth and recession worries have created a “very difficult environment” for cryptocurrencies.

Reactions On The Web

The official Twitter handle of Baby Doge noted the erosion in the markets but tweeted out a positive message.

Crypto maybe down but the impact we can make today remains.
Proud to see a difference being made possible by #BabyDogeArmy & @AnimalLeague pic.twitter.com/zYY3kBHG6n

— Baby Doge (@BabyDogeCoin) May 9, 2022

Shiba Predator took aim at DOGE in a Tweet on Monday through a meme.

When it comes time to sink or swim, the $QOM always rises to the top. #flipshiba pic.twitter.com/5039Q0CLxZ

— QOM – Shiba Predator (@ShibaPredator1) May 8, 2022