Dogecoin fell 57% and Nike stock 76% over five years, CoinGecko shows
In brief
- CoinGecko compared Dogecoin (DOGE) and Nike stock from October 2, 2021, U.Today reported.
- DOGE fell 57% to $0.096; Nike (NKE) fell 76% to $35.22.
- U.Today said the result doesn't make either asset the stronger one.
- Analyst Ali sees DOGE resistance at $0.098, citing cost basis data.
- Arkham has labelled $2.88 billion in DOGE across Robinhood's wallets.
What CoinGecko compared
CoinGecko started the comparison on October 2, 2021, when DOGE traded at $0.223 and Nike shares changed hands at $149.60. Five years later (using prices at the time of U.Today's report), DOGE sat at $0.096 and Nike at $35.22.
So both of them lost more than half their value. DOGE just lost less.
"$DOGE vs. $NKE if you held for the past 5 years."
That was CoinGecko's caption, and the platform attached a screenshot showing Dogecoin's smaller decline next to the sportswear stock. These aren't assets of the same size, either. U.Today described Dogecoin as the 11th-largest cryptocurrency, with a market cap of $16.65 billion. Nike (headquartered near Beaverton, Oregon) carried a market capitalization of $52.14 billion.
None of this makes one asset the winner.
U.Today said the result doesn't point to either asset as the stronger or weaker one, since both went through significant volatility over the period. It's a comparison of two drawdowns measured from a single start date, and it doesn't rank either asset.
Where an analyst sees DOGE supply
Crypto analyst Ali flagged $0.098 as a major resistance zone for DOGE, citing Cost Basis Distribution Heatmap data showing that about 28 billion DOGE changed hands around that level. If DOGE gets above it, he sees the next supply walls near $0.11 (where about 4.98 billion DOGE previously changed hands) and $0.20 (about 12 billion DOGE). Those levels are Ali's reading of where past buyers cluster. They aren't forecasts.
Robinhood's DOGE exposure
Arkham has labelled $24.96 billion of Robinhood's wallets across 12 chains, U.Today reported. Of that total, $2.88 billion is in DOGE, according to Arkham's labelling.
Frequently asked questions
How much did Dogecoin and Nike stock fall over five years?
CoinGecko's comparison, as reported by U.Today, started on October 2, 2021, when DOGE traded at $0.223 and Nike at $149.60. At the time of the report, DOGE was at $0.096 (down 57%) and Nike at $35.22 (down 76%).
Does the comparison mean Dogecoin outperformed Nike as an investment?
U.Today said the result doesn't point to either asset as the stronger or weaker one, because both went through significant volatility over the five years. The comparison shows only that DOGE's decline from its October 2, 2021 price was smaller than Nike's.
