Bitcoin Looses Ground While Dogecoin Metrics Soar
The cryptocurrency market has been getting frequent price movements
recently with meme coins like Dogecoin minting gains. Some of the
significant assets made an uptrend within the past two weeks.
However, most of them couldn’t sustain the bullish trend for long.
Hence, they have experienced a slight drop in prices this week.
Bitcoin is among the assets that have shown high volatility in the
past few days. But it seems to have flattened out at around the
$24,000 region. Dogecoin, on its part, is recording a progressive
increase in value. As a result, DOGE stands top among other meme
coins, gaining momentum. Unfortunately, the story is not pleasant
for most altcoins as most are stagnating in their prices today.
Related Reading: Polygon Seen Breaching $1 This Week – Can MATIC
Start An Uptrend? Bitcoin got quite a swing in its price over the
past few days. Though it later halted during the weekend, this was
after some fluctuations in its value. The price of Bitcoin
initially rose to $25,000, a new 2-month high. The rise seemed
difficult for the token to ensure its sustainability and had to
drop. However, it later surged upward within hours as the price
rallied to about $25,200. This marked the highest point for BTC
since the middle of June. Bitcoin Falls But Dogecoin Gains Momentum
With every passing hour, the BTC price started retracting. The
value finally gave up more than $1,000 to remain beneath the
$24,000 mark. Since then, Bitcoin’s trading price has been hovering
below the $24,000 region as the token keeps its stagnant stance.
Currently, BTC boasts a market cap of about $450 billion while
maintaining a 40% dominance over the altcoins. Dogecoin has kept
its lead as the first in existence and dominance when it comes to
meme coins. However, DOGE is taking a different route. The leading
meme coin has gained over 8% in value in a single day. The price of
DOGE has surged up to $0.08 and remains on top above several other
meme coins and altcoins. Price Performance of Altcoins For
Ethereum, the price is seeing a more positive move in an upward
trend. Ether had jumped to its 74-day peak to around $2,050. The
sentiment for the global second largest cryptocurrency is recently
paving the way for its price performance. This is linked to the
rumor concerning its upcoming blockchain upgrade, the Merge.
Despite its sudden rise within the past few days, ETH later dropped
in price and is presently trading around the $1,900 region. For
other altcoins, the movement has not been so easy. Most of them
have been fluctuating throughout the weekend and even on Monday.
Some of them have stalled at certain marks. Related Reading: XRP
Sluggish At Resistance – Will It Break Out After 2 Months Of
Vertigo? There were no unusual moves for Ripple, BNB, Shiba Inu,
Polkadot, Cardano, and Avalanche. From the mid-cap and lower
altcoins, Monero had the best performance. Its token, XMR, made a
5% increase to hit the $170 trading. Featured image from Pixabay
and chart from TradingView.com
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