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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.
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.
Dogecoin takes a bow and falls by 2% on the chart l Source: DOGEUSDT on TradingView.com
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.
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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