Crypto Market Volatility: Bitcoin Rebounds, Dogecoin Loses Steam
The crypto markets have witnessed intense volatility since Bitcoin broke through the $100,000 mark for the first time on December 4. The event has sent shockwaves that sank other assets, resulting in significant liquidations.
Bitcoin’s Resilience
While Bitcoin has mostly rebounded from the sizable dips, it has managed to maintain its position as the top cryptocurrency by market capitalization. As of this writing, the current price stands at $100,995, representing a 0.7% increase over the week.
Dogecoin’s Decline
On the other hand, Dogecoin has lost considerable steam over the last week, with its price plummeting to a current level just below $0.39. This represents a decline of nearly 19% since its peak on December 7. Furthermore, Dogecoin has fallen 15% over the last seven days, including data from the hours before that recent high.
Performance of Top 10 Cryptocurrencies
Among the top 10 cryptocurrencies by market capitalization, Dogecoin is the biggest loser, outpacing Cardano with a 13% dip during that span, and Solana with a 10% correction. Bitcoin is the only asset in the top 10 that’s green on the week.
Performance of Meme Coins
Looking beyond the top 10, other leading meme coins in the top 100 cryptocurrencies have posted even sharper losses over the last week. Dogwifhat (WIF) is the biggest loser, down 28% during that span, while Bonk (BONK) has fallen 23%, Brett (BRETT) is down 22%, and Shiba Inu (SHIB) has matched the DOGE dip at 15%.
Market Trends
Overall, the crypto market has fallen by 3% over the last 24 hours, according to data from CoinGecko.
Conclusion
The crypto market has been experiencing intense volatility in recent times, with Bitcoin rebounding from sizable dips while Dogecoin has lost considerable steam. The performance of top 10 cryptocurrencies and meme coins has also been affected, with some experiencing sharper losses than others. As the market continues to fluctuate, investors and traders should remain cautious and monitor developments closely.
FAQs
Q: What is the current price of Bitcoin?
A: As of this writing, the current price of Bitcoin stands at $100,995.
Q: What is the current price of Dogecoin?
A: As of this writing, the current price of Dogecoin stands at a level just below $0.39.
Q: What is the biggest loser among the top 10 cryptocurrencies by market capitalization?
A: Dogecoin is the biggest loser, with a decline of nearly 19% since its peak on December 7.
Q: What is the current state of the crypto market?
A: The crypto market has fallen by 3% over the last 24 hours, according to data from CoinGecko.
