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As the broader cryptocurrency market registers an altcoin rally, Dogecoin (DOGE) has taken a staggering lead. The meme coin has soared past other notable assets like XRP, Solana (SOL) and Cardano (ADA), which have all recorded impressive price upticks in the last 24 hours.
Dogecoin leads altcoin pack
As of this writing, the DOGE price was changing hands at $0.3494, representing a 10.04% increase. Investors’ interest has continued to grow, as shown by trading volume, which soared 45% to $3.68 billion. DOGE climbed from a low of $0.3114 to post its current price performance amid a market rally.
Yuri MolchanTraders on Binance might have triggered the current price rally as they bet long on DOGE, as earlier reported by U.Today. Over 81% of the traders on the exchange were optimistic about a price rally, and it is currently playing out.
XRP also posted gains, but they were slightly lower than DOGE. XRP had an 8.15% price increase to $2.56. XRP’s trading volume grew by 12% to $8.78 billion. This signals a departure from the price fluctuation that XRP has witnessed in the past 30 days, where it has struggled to breach the $2.40 level.
Investors hope XRP, buoyed by the RLUSD stablecoin's expansion and performance, might support it in retesting higher levels. Already, key XRP metrics hint at the token rallying to the $3 level as long as bullish sentiment persists.
Markers of this bullish trajectory include an increasing number of new accounts and soaring transactions.
Cardano pushes toward psychological milestone
Solana’s price in the last 24 hours rose by 6.90% to $187.91. SOL’s market volume also grew to $4.16 billion, representing a 20.5% increase. This price performance remains significant, considering Whale Alert spotted 149,999 SOL being moved from an unknown wallet to Binance recently.
At the time, the transaction triggered sell pressure on a segment of market participants. However, it has not impacted SOL enough to prevent an upward rally, as is visible now.
Cardano also pushed toward its psychological $1 level, with a 7.49% increase in price to $0.9711. It has also registered a trading volume of $1.29 billion up 15.53%.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin