As investors begin to realize profits from their increased portfolios, the benefits accumulated over the previous week are being reduced across the whole digital currency ecosystem. The combined market capitalization of all digital currencies is down by 2.25% to $1.22 trillion, while Dogecoin (DOGE), which has gained 6.17% over the past day to $0.07425, shows the greatest resistance to the bearish decline.
Dogecoin joined the XRP-fueled upswing early this week, and during that time, it has risen as much as 13.52%. With its main competitors Shiba Inu (SHIB) and PEPE Coin (PEPE) lagging behind, its advancement has helped the meme coin rally once more. SHIB is up 5.29% over the past day to $0.000008371, while PEPE is down 3.71% to $0.000001695 over the same period.
The consistent retail buy-ups across the board demonstrate the fundamental sentiments driving the upbeat rally within the Dogecoin ecosystem. According to the well-known on-chain expert @ali_charts, DOGE is trying to break through the $0.075 price stage. If it succeeds in getting through, it might activate more than 176,000 addresses that had previously acquired more than 12.3 billion DOGE coins.
According to data from CoinMarketCap, the surge in purchasing and selling volume has increased by more than 14% in just one day, highlighting the optimistic trend that has been ongoing.
driving and preparing for the market
It’s crucial to note that Elon Musk, the CEO of Tesla and the owner of Twitter, who is regarded as the main proponent of the joke coin, has had no influence on the current Dogecoin rise. The growth of Dogecoin is lagging behind the overall market development, which will more reliably support its sustained ascent in the near future.
The strength of the rise is further reinforced by the general sentiment surrounding the clear standing of numerous altcoins, particularly XRP, which was recently designated as a non-security by Choose Analisa Torres.
