Dogecoin (CRYPTO:DOGE) has given up some ground in Tuesday’s trading. The cryptocurrency’s price per token is now down roughly 2.4% over the last 24 hours.
The pullback for Dogecoin comes despite gains for other leading cryptocurrencies. As of 5:30 p.m. EDT, Bitcoin was up roughly 3.9% over the previous day of trading, while Ethereum‘s Ether token was up roughly 1.7% across the stretch.
Rather than any big token or crypto-space news, Dogecoin’s sell-off appears to be the result of investors taking profits on the heels of recent gains. Even with today’s pullback, the token is still up roughly 8% over the last seven days of trading.
Increasing adoption for the cryptocurrency has improved its potential for long-term viability, and support from figures including Elon Musk and Mark Cuban has helped generate excitement among crypto investors. Dogecoin may have started as something of a joke, but its performance in 2021 has been nothing short of incredible. The token has surged more than 4,200% year to date.
Dogecoin now has a market capitalization of roughly $32 billion and is the 10th…