Hours after trading higher, cryptocurrency Doge Token (DOGET) slipped nearly 31 per cent on Friday afternoon, with its trading volume plunging by around 67 per cent.

According to the data available at Coinmarket.com, the value of cryptocurrency was down by 30.84 per cent to $0.001718, with a market cap at $0.02047. On Thursday, the value of the digital currency was recorded at a high of $0.005714.

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When compared to its twin– Dogecoin, Doge Token is based on the technology called, Stellar Lumen. In addition to this, the company claimed that since “Stellar does not make use of PoW mining, it is green.”

‘Such efficiency cannot be overstated. The stellar platform promises the speed and cost of transactions without sacrificing any drop in security,” stated the company’s website.

In the era of cryptocurrencies, when every day some new cryptocurrency is coming to life, the company, on its website, claims that the “Dodge community has always been about fun and humour. We propose moving from a more hobby driven blockchain technology to the most secure and advanced: Stellar. We saw a lot of opportunities with Dogecoin, but because it’s a shrinking community, we build an alternative: Doge Token.”