DOGE and ADA spiked 6% chartering the most gains in the past 24hours while Bitcoin fails to continue higher and remains stuck at $33,000 as we can see more in our recent altcoin news.
DOGE and ADA made some strong gains while Bitcoin struggles as it seems stuck around $33,000 and while most altcoins failed to produce gains, both of these coins jumped by 6%. Over the past few days, we were reminded of the BTC enhanced volatility. The asset went from a high of $36,000 all the way to $28,500 in a few hours and became its lowest price point in a few months. But this is not all of course as it reclaimed more than $5000 of value in hours as reported. The bulls pushed it upwards and BTC pumped to a new high of $35,000.
However, after the many bearish signs, the crypto reversed its trajectory once again and it dropped by about $2500 and despite recovering the hundred dollars since it is struggling below $33,000. The market dominance declined by 0.5% since a day ago and some alternatives even charted more gains.
As recently reported, The meme token Dogecoin showed strength in posting a 50% gain from the Tuesday lows of $0.16 but at the time of writing, DOGE staged a 50% recovery and it is priced at $0.22. The $0.16 zone was established by the strong support area formed in mid-April around the time when the Elon Musk-spiked FUD emerged. This week saw DOGE bounce off the levels on three occasions further explaining it as a price level where the buyers stepped up. The markets are making up the most of the bullish momentum but Dogecoin leads the top 10-in terms of the biggest gains.
The narrative that DOGE already topped out persists and with no analysis reiterating the message, will this level of $1 remain a fantasy? Dogecoin’s 2021 performance has been quite spectacular and as of this peak, DOGE was priced at $0.75 and give it a year-to-date performance at the time o 15,000%. The accomplishment set up a narrative that defined the use cases and sound tokenomics which doesn’t equate to the out-doing of the competition. Dogecoin was a source of resentment as its rise showed that the huge profits in crypto weren’t reserved for those who do the research and make rational judgments based on it. Glauber Contessoto was one of the “degens” and he became a millionaire after he invested $25,000 life savings in Dogecoin back a few months ago.
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