June 25, 2021

DOGE Enters Top 10 Cryptos While Bitcoin Eyes $40K (Again): Market Watch

2 min read

Bitcoin’s dominance continues to suffer and has dipped below 61% even when the cryptocurrency has actually remained above the $39,000 mark. This is an outcome of blowing up lower- and mid-cap altcoins.

While a lot of larger-cap ones have calmed in the past 24 hours, Dogecoin has capitalized and went back to the leading 10.

Bitcoin Targets $40K Again

The primary cryptocurrency had a favorable week in which it surged by about $9,000. Bitcoin dipped to $32,000 on Monday, but, possibly driven by institutional investors withdrawing from Coinbase, started to slowly increase in value.

This culminated in a near 1-month top of $41,000 on Friday. Nevertheless, the cryptocurrency stopped working to preserve its price at such a high level and fell underneath $40,000 quickly after.

The bears improved their endeavors and pushed BTC to an intraday low of $37,500 in the past 24 hours on Bitstamp. Nonetheless, bitcoin declined to remain down and has leapt above the $39,000 level once again.

From a technical viewpoint, BTC’s main barriers are situated at $40,000, $40,735, $41,000, and the all-time high at $42,000. Additionally, the assistance lines at $38,550, $38,000, and $37,350 could contain it in case of rate breakdown.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView Doge Returns To Top 10 And Lower-caps Explode Most of the altcoin market has been on a roll recently, which led to several all-time high records for Ethereum, Binance Coin, Polkadot, Chainlink, and more.

However, the situation is somewhat various given that the other day. Ethereum, Cardano, Polkadot, and Chainlink have painted small gains, while XRP and Litecoin are a little in the red.

BNB has added about 8% of value and has neared its record price at above $75. What’s possibly more engaging, though, is the return of Dogecoin in the top 10 after a 20% surge to $0.07. This comes after a substantial interest in the meme coin from Elon Musk, the Winklevoss twins, Snoop Dogg, and more.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com The situation within the lower and mid-cap altcoins is significantly more volatile. Avalanche has gotten the most with a 50% increase, followed by Elrond (48%) and Matic Network (45%).

Terra (27%), Solana (26%), 0x (22%), Cosmos (20%), NEM (20%), The Graph (20%), THORChain (18%), and Ravencoin (15%) are next.

Ultimately, these increasing alts have decreased BTC’s supremacy over the market to beneath 61%, after the metric neared 62% during the weekend.