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Bitcoin holds $24,000; Dogecoin, Shiba Inu & XRP rise up to 8%

New Delhi: Crypto market was trading mixed on Wednesday with crypto behemoth Biycojn largely unchanged while meme tokens witnessed strong gains.

Dogecoin rallied more than 8 per cent, whereas XRP gained 4 per cent. Shiba Inu and Polkadot added 3 per cent each. Polygon and Avalanche shed a per cent each.

The global cryptocurrency market cap was trading marginally up at the $1.15 trillion mark, gaining less than a per cent in the last 24 hours. However, the total trading volume tumbled over 16 per cent, close to $64.86 billion.

Tech View by Giottus Crypto Platform
DOGE had a roaring opening to the week with its 7-day gains going over 21%. The popular meme coin is back in the top 10 cryptocurrencies by market cap and has outperformed popular coins like DOT, MATIC and AVAX.

The euphoria around the Ethereum upgrade coupled with the sustained momentum in the crypto market is the main driving force behind the surge in DOGE prices.

Chart-Doge (1)Agencies

The positive news around DOGE which positioned it as a payment currency may have sparked investor interest in the meme coin. DOGE is a strong contender for integration into the global payment mechanism and it needs to find a real-world use case very soon.

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