Trending
  • Bitcoin to dramatically increase crypto market dominance in 2019
  • Binance to launch its own blockchain Binance Chain soon
  • Bitcoin faces second largest difficulty drop in history after latest adjustment
  • US Department of Homeland Security to monitor Blockchain Transactions

Dogecoin Continues to Rise Amid Crypto Market Plunge

img02

Markets are showing some green signals amid bearish overlook of the investors. Dash and Dogecoin are continuously defying the last week's drop. A very little movement has occurred over the past couple of days which leaves markets at just below $200 billion, very close to their yearly lows.

Bitcoin is trading at $6332 at the press time and broke the support level of $6400. Over the past 24 hours, it has remained flat. The next major resistance level for BTC is around the $6,600. Ethereum has continued to plunge down and is at its lowest point for over a year. ETH gained about 4% during the last 24 hours but has already broken the support level of $200. It reached $185 before coming back to $199.

"Altcoins are still bearish and mostly in the red at the moment. ETH is the biggest loser in the top ten but has gained 4.25% in the last 24 hours. Bitcoin Cash is up by 3.25%, Cardano by 1.35% and Monero by 4.67%. The rest are pretty flat with very small gains."

The top twenty are also inactive with only two altcoins making a move. Dash has regained 11.92% during the last 24 hours to trade at $204.5. Dogecoin which has been on a run last week has also gained 8.7% during the last 24 hours. DOGE has made more than 120% in the past 30 days and is one of the few altcoins that has not been thrashed in the week's market plunge.

"Trade volume has risen considerably to $47 million, most of which is on Gate.io."

The team also successfully tested the Dogethereum bridge last week. Following few days of the bearish market, there are a number of alts in the green right now with Dash and IOTA emerging out as the topmost gainers. Rchain and Holo are both suffering considerable losses at around 5.82% and 2.45% declines respectively on the day.
Total crypto market capitalization has fallen back considerably to around $197 billion, very close to its August 14 low point of $189 billion. .Things are not looking up in the crypto land as the long-term downtrend is still intact and the technical indicators are still looking bearish. The only thing that has climbed is Bitcoin's market dominance. It is now at 55.6%, its highest level since mid-December.
At press time, the top 5 gainers are Dash (11.9%), IOTA (8.91%), Nexus (8.8%), Dogecoin (8.7%), and Bitcoin Diamond (7.4%).

loading...