Dogecoin (DOGE) will never stop! The meme coin rose steadily today, despite the fact that the crypto has already risen sharply in recent days. In addition, bitcoin (BTC) is actually trading sideways and is even declining slightly in value at the moment. What happened in the market today? You read it in this update!
Bitcoin (BTC) rejected by resistance, will there be a correction?
Yesterday, bitcoin was still pretty close to USD 59,000, but the resistance in this area proved too strong. The price of BTC was rejected and as a result fell back. Today we saw a small revival, although it was short-lived. Since the beginning of the afternoon, the price has shown a downward movement again, with the trade volume also picking up.
Should bitcoin form a low above $ 52,500 and bounce back up, it would be a higher low from the swing low on April 29. Are these two factors a signal that a correction may be imminent?
For the time being, there is not yet a major acceleration as we saw it on April 18. Do you need help with crypto, or do you want to receive a video price update from our analyst Michiel every day? Become an Insider and come and take a look at our active community for free for the first 30 days!
Dogecoin (DOGE) continues to rise
It was dogecoin again today that stole the show. The number 4 crypto is now larger than ripple (XRP) after increasing in value by 37% in the past 24 hours. Over the past 7 days, the increase is even 117%.
DOGE just hit a new record price of $ 0.606. At the beginning of this year, DOGE was only worth $ 0.0056 and so the crypto has appreciated by a whopping 10,700%. What was behind this recent increase?
It is striking that the rest of the top 10 cryptocurrencies are predominantly red with only Ethereum (ETH) 9.5% in the plus and litecoin (LTC) 13% in the green. Ethereum also reached a new all-time high (ATH) today. The market’s largest altcoin hit a price of $ 3,523, the highest ever for ETH.