The price of Dogecoin (CRYPTO: DOGE) has plummeted by nearly 40% since its peak in mid-May, the latest in the wild roller-coaster ride the cryptocurrency has been on since the beginning of the year.
Dogecoin originally started as a joke back in 2013, but it's caused real waves in the investing world. Since the beginning of this year, Dogecoin's price has soared by nearly 6,000%. Over the past 12 months, it's up by more than 13,000%.
Cryptocurrency, in general, has experienced explosive growth over the past few months. But Dogecoin's returns have been truly spectacular, outpacing those of even the biggest names in the industry, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) . Bitcoin's price is up by around 280% over the past 12 months, while Ethereum is up by around 950%.
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Dogecoin Is Crashing: Is Now the Time to Invest?