The Twitter-famous Dogecoin is finally going up after weeks and weeks of incurring huge losses across all exchanges.
At the time of writing, the price of the joke-turned-serious cryptocurrency was holding fort at $0.23, up by almost 20 percent in the past 24 hours.
Regardless of how the meme coin continues to trade as we approach the remaining few days of June, it’s still the sixth biggest cryptocurrency by market cap, north of $30 billion.
Nausea In The Crypto Streets
The story was a bit perplexing in other caps, with coins such as Bitcoin, Ethereum, and BNB struggling to move up, even by a hair’s breadth. However, the global crypto market cap has spiked from $1.26 trillion to $1.33 trillion in the past 24 hours.
Bitcoin sits above $32,820, a single-day trough, restricting the majority of other cryptocurrencies from moving ground. Also, its average price over the last 2 months has fallen below that of its 200-day moving average, a sign of impending losses courtesy of lingering embargos on crypto mining in hubs like China, Iran and India.
The world’s biggest cryptocurrency has lost more than 28% in the last six days alone, and was at less than half its April peak yesterday of almost $65,000. If you’re looking for something sweet to eat, pray that you get to see the market close in the green on Friday evening.
Ethereum is becoming a little too comfortable in the $1,900s after days of horror-stricken losses in the billions. At the time of writing, it was down by 2.6% and looks set to close at this level by the end of this week
Besides the top 10 group of cryptocurrencies that looks like it was hit by a train, assets such as SHIBA INU (SHIB), Chainlink (LINK), and Polygon (MATIC) also failed to hint at any near-term emergence of bullish trends.
At the time of writing, SHIB continued to stay in the red, down by 1.61%. Similarly, Chainlink fell by 4.89% to $18, while the MATIC coin on the Polygon blockchain has dropped 4.2% to $1.17.
Looking forward to Friday’s closing trade? Give us your views in the comment section below.