Dogecoin loses 70% against Bitcoin during 6 months of celebrity DOGE endorsements

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The DOGE whitethorn person had its day, and societal media is engaged poking amusive astatine Bitcoin skeptic Mark Cuban.

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Dogecoin loses 70% against Bitcoin during 6 months of personage  DOGE endorsements

Dogecoin (DOGE) whitethorn person landed large proponent Mark Cuban successful blistery h2o arsenic it hits its lowest against Bitcoin (BTC) successful implicit fractional a year.

DOGE/BTC 1-week candle illustration (Bittrex). Source: TradingView

"Now terms it successful bananas"

Data from Cointelegraph Markets Pro and TradingView showed DOGE/BTC trailing astatine 412 satoshis (0.00000412 BTC) connected Oct. 14 — down from highs of 1,284 satoshis (0.00001284 BTC) successful April.

As Bitcoin outpaces altcoins en masse this month, the symptom has been particularly aggravated for Dogecoin investors aft months of nationalist campaigning by some Cuban and others, including the world's richest man, Elon Musk.

Nothing has been capable to reverse the meme-based cryptocurrency's fortunes, however, and now, frustrated commentators are adjacent demanding an explanation.

Cuban was successful enactment for retribution this week, with podcast big Preston Pysh suggesting that his touting of Dogecoin connected U.S. nationalist tv astatine the highs had been — to accidental the slightest — misguided.

Cuban Coin, measured successful BTC...since promoting it to the satellite connected Ellen. @mcuban pic.twitter.com/8LQAECwsmk

— Preston Pysh (@PrestonPysh) October 13, 2021

Fellow pundit Peter McCormack joined calls for Cuban to remark connected the concern against the latter's backdrop of disapproval of Bitcoin.

Twitter users further evoked Cuban's assertion that helium would rather ain bananas than BTC, poking amusive astatine Dogecoin's declining purchasing powerfulness erstwhile measured successful the fruit.

In August, Cuban stated that helium owned little than $500 of DOGE.

Has the DOGE had its day?

Musk, meanwhile, has moved connected to incorporated Dogecoin spin-off cryptocurrencies successful his publicity efforts, these likewise seeing huge gains connected the backmost of adjacent the astir innocuous comments.

Related: Elon Musk’s Tesla is already $1 cardinal successful nett from holding Bitcoin

One specified coin, Shiba Inu (SHIB), has since seen substantial selling from large-volume investors known arsenic whales.

The Tesla CEO did not flight the wrath of Bitcoiners earlier this year, however, with his Dogecoin activities being met with claims of capitalist manipulation.

As Cointelegraph reported, altcoins are tipped for a renaissance erstwhile Bitcoin hits its rhythm top, this presently slated for the opening of 2022.

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