Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Dogecoin Takes a Bite Out of the Bear as Market Stumbles

Dogecoin Takes a Bite Out of the Bear as Market Stumbles

DailycoinDailycoin2024/01/22 13:07
By:Dailycoin
  • The crypto market has undergone a turbulent week, revealing unexpected winners amidst the shades of red.
  • Established giants have faced the crimson tide, while unlikely heroes have emerged with surprising gains.
  • Lesser-known coins have defied the downtrend, showcasing double-digit gains.

This week’s market chart reads like a gothic novel: red, dramatic, and full of unexpected twists. While eight major coins took a tumble, leaving even established giants like Bitcoin bruised and battered, two unlikely heroes emerged from the ashes

Crypto Market Sees Red

This week, a crimson tide swept across the cryptocurrency market, with eight out of ten major coins experiencing price dips. Polkadot (DOT) bore the brunt of the downward swing, shedding 9% of its value. 

Fellow smart contract platforms Avalanche (AVAX) and Cardano (ADA) weren’t far behind, losing 8.8% and 5.2%, respectively. Solana (SOL) and XRP (XRP) rounded out the top five decliners with 4.7% and 4.2% losses, respectively.

Even established giants like Tron (TRX) , Ethereum (ETH) , and Bitcoin (BTC) couldn’t escape the red wave, albeit with smaller losses of 2.9%, 2.25%, and 2.6%. But amidst the falling prices, two coins defied the trend and emerged as unlikely victors. 

Binance Coin (BNB) defied gravity with a respectable 4.7% gain, cementing its position as a relatively safe haven within the volatile market. However, the true surprise of the week was Dogecoin (DOGE) , the meme-based cryptocurrency often dismissed as a whimsical outlier. 

DOGE defied expectations with a stunning 6.4% surge, leaving even seasoned market watchers scratching their heads. Analysts attribute the unexpected jump to a combination of factors, including renewed community hype and Elon Musk’s continued vocal support for the canine coin.

Top Coins Tumble, Hidden Gems Sparkle

In the shadows of these giants, a different story is unfolding. A select group of lesser-known coins, nestled within the top 100, are defying the downtrend and dazzling investors with eye-catching double-digit gains.

Among these breakout contenders are Ronin (RON), Flare (FLR), and Astar (ASTR). Each has carved its own path to success, showcasing the diverse potential hidden within the vast and ever-evolving crypto landscape. With its impressive 32% surge, Ronin has emerged as a frontrunner, while Flare and Astar follow close behind with their own 27% and 25% gains, respectively.

On the Flipside

  • Investors should remain cautious and avoid making impulsive decisions, considering the wide-ranging fluctuations across different cryptocurrencies.
  • Past performance doesn’t guarantee future success; the market’s dynamic nature could elevate new contenders or deflate the current leaders.

Why This Matters

As the crypto market weathers the storm of red charts and surprising triumphs, the fluctuations in these major and lesser-known coins underscore the inherent volatility of the cryptocurrency landscape. This rollercoaster of gains and losses is a potent reminder of the market’s dynamic nature.


To learn more about on-chain warning signs for major cryptocurrencies like Bitcoin, Ethereum, and XRP, delve into the intricacies of blockchain alerts here:
Bitcoin, Ethereum, and XRP Flash On-Chain Warning Signs

Curious about Dogecoin’s potential ascent to $0.10? Discover the key condition that could propel this meme-inspired cryptocurrency to new heights in this insightful analysis:
Dogecoin Poised for $0.10 on One Condition, Notes Top Analyst

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

BC.GAME Rebrands, Expands $BC Crypto Ecosystem

BC.GAME, a leading name in Web3 gaming, has unveiled a major brand overhaul, introducing a new logo, updated colour scheme, and the bold slogan “Stay Untamed.” The rebrand signals the company’s sharpened focus on crypto integration and its vision to build a global, community-driven Web3 entertainment ecosystem.

DeFi Planet2025/05/13 17:00
BC.GAME Rebrands, Expands $BC Crypto Ecosystem

Ethereum Rally Stalls Near $2.58K as Holders Take Profits

Ethereum is priced at $2,438, marking a 3.5% decline in the last 24 hours after experiencing a 34% increase over the past week. According to data from Coinglass, open interest has fallen by 2%, suggesting a decrease in leveraged positions. This pullback comes after an impressive rally, during which ETH rose from $1,800 to over $2,500 in just a few days.

DeFi Planet2025/05/13 17:00
Ethereum Rally Stalls Near $2.58K as Holders Take Profits

Truth Social Denies Memecoin Launch Amid Trump Token Controversy

Truth Social, the social media platform owned by Trump Media & Technology Group, has denied circulating rumours suggesting it is launching a memecoin. In an official post, the platform dismissed the speculation as false, reiterating that it had no involvement in any crypto token launch.

DeFi Planet2025/05/13 17:00
Truth Social Denies Memecoin Launch Amid Trump Token Controversy