Recent price movement in cryptocurrency has been frequent due to meme coins such as Dogecoin making gains. Some significant assets have experienced an upward trend in the past 2 weeks. However, most of them couldn’t sustain the bullish trend for long. They have seen a slight decline in their prices over the past week.
Bitcoin has been one of the most volatile assets in recent days. It seems that it has stabilized at $24,000. Dogecoin on the other hand is experiencing a gradual increase in value. DOGE is now the most popular meme coin and has gained momentum. The story for many altcoins isn’t good, as they are all stagnating today in their prices.
Bitcoin saw a dramatic swing in price during the last days. Although it did stop briefly at the weekend, there were some fluctuations in its value.
Bitcoin’s initial price was $25,000; this is a 2-month record. It was difficult for the token’s sustainability to rise with this price increase and it had to fall. It soared up within hours, rising to $25,200. This was the most significant BTC price increase since June’s middle.
Bitcoin drops, Dogecoin rises
The BTC price began to fall with each passing hour. Finally, the value lost more than $1,000 and remained below $24,000. Since then, Bitcoin’s trading price has been hovering below the $24,000 region as the token keeps its stagnant stance. BTC currently has a market capitalization of approximately $450 billion and a 40% advantage over other altcoins.
Dogecoin is still the leader in meme coin creation and existence. DOGE however, is going a completely different direction.
In just one day, the most popular meme coin gained more than 8%. DOGE is currently at $0.08; it still tops other altcoins as well.
Altcoins Price Performance
The price of Ethereum is showing a positive trend in an upward direction. Ether reached a 74-day high of $2,050. Recent price performances are being driven by the sentiment of the second-largest cryptocurrency in the world.
This could be due to rumors about the Merge, its forthcoming blockchain upgrade. ETH is currently trading in the $1900 range despite its recent rise.
Altcoins have not had an easy time of it. They fluctuated throughout the weekend, and on Monday. Some have stopped at specific points.
Ripple (BNB), Shiba inu, Polkadot and Cardano made no unexpected moves. Monero was the most successful of the lower altcoins and mid-caps. Monero’s token, XMR saw a 5% rise to reach $170 trading.
Featured image by Pixabay, chart from TradingView.com