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Dogecoin Slumps In Crypto Crash But These Minor Knock-Offs Are Striking Gains

Benzinga
Benzinga
 26 days ago
https://img.particlenews.com/image.php?url=3EnS60_0c1cCsIf00

Meme cryptocurrency Dogecoin (CRYPTO: DOGE) is falling amid a broader market crash but some of its minor knock-offs are seeing notable gains leading up to press time on early Monday.

What Happened: Wifedoge (CRYPTO: WIFEDOGE), the supposed "wife" of Dogecoin, has surged almost 28% in the past 24 hours to $0.000000000043 at press time, while Saitama Inu (CRYPTO: SAITAMA) is up 31.8% to $0.000000009327.

Baby Doge Coin (CRYPTO: BABYDOGE) is up 7.1% over the past 24 hours to $0.000000000796.

The gains posted by the minor cryptocurrencies come even as the broader crypto market slipped on Sunday night amid fears of intensifying regulatory crackdowns on the sector.

Some of Dogecoin’s other imitators, including Dogelon Mars (CRYPTO: ELON) and renDoge (CRYPTO: RENDOGE) are falling sharply. Shiba Inu (CRYPTO: SHIB) is also trading lower.

Why It Matters: Wifedoge surged more than 3,000% in market capitalization in just one day last month but failed to sustain the streak and its market cap later fell significantly. It was reported that the altcoin sparked interest from Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk.

Saitama, a cryptocurrency launched in June, is built on Ethereum’s (CRYPTO: ETH) network. Like many other newer cryptocurrencies, Saitama is built on a decentralized network, built to be a new way for users to make monetary transactions.

Baby Doge, built on the Binance Smart Chain network, gained in popularity after Musk tweeted about it in July. The cryptocurrency plans to expand globally and recently announced a range of new products, including a wallet, exchange, app, and debit card.

Price Action: Dogecoin is down 9.4% during the past 24 hours, trading at $0.2164 at press time.

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