Since Elon Musk’s acquisition of Twitter became official, Dogecoin has continued to steal the show, increasing by triple digits on a weekly basis.
Dogecoin Is The Star
It’s safe to assume that the first memecoin has had the best performance this week. Along with the rest of the market, Dogecoin struggled around $0.07 until Wednesday. Later this week, though, things started to shift once it became clear that Elon Musk was abandoning his plan to buy Twitter.
The price of memecoin immediately increased as a result of the billionaire and its history. As a result, yesterday saw a multi-month high of $0.1. However, DOGE continued to rise in the hours that followed and reached $0.15 earlier today – for the first time since May.
Despite retracing to $0.125 as of now, the asset is still up by 15% daily and more than 110 weekly.
The rest of the altcoins are a lot quieter, even with minor losses. Such are the cases with Ethereum, Ripple, Solana, MATIC, Polkadot, Shiba Inu, Tron, and Avalanche.
Nevertheless, the cumulative market cap of all crypto assets has remained well above $1.1 trillion, given the boost provided by Dogecoin’s gains.
Even with slight losses, the other altcoins are much more calm. Ethereum, Ripple, Solana, MATIC, Polkadot, Shiba Inu, Tron, and Avalanche are examples of such projects.
Despite this, given the boost provided by Dogecoin’s growth, the total market cap of all crypto assets has stayed far above $1.1 trillion.