DODGE enters the top 10 cryptos while Bitcoin is looking at $ 40K (again) - News-Credit-Mortgage-Coin


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Monday, February 8, 2021

DODGE enters the top 10 cryptos while Bitcoin is looking at $ 40K (again)

 After dipping below $ 38,000, Bitcoin has bounced back and is again on target for $ 40,000, while Elon Musk-initiated interest in DOGE has put the meme coin in the top 10

Bitcoin's dominance continues to suffer and has fallen below 61% even as the cryptocurrency stayed above the $ 39,000 mark. This is a result of the explosion of low and medium cap altcoins.

While most of the larger caps have calmed down in the past 24 hours, Dogecoin has taken advantage of this and returned to the top 10.

Bitcoin is targeting $ 40,000 Again

The primary cryptocurrency had a positive week, rising around $ 9,000. Bitcoin dipped to $ 32,000 on Monday, but perhaps driven by institutional investors withdrawing from Coinbase, began to increase in value gradually.

That culminated in a nearly month-long high of $ 41,000 on Friday. However, the cryptocurrency failed to keep its price at such a high level and shortly afterwards fell below $ 40,000.

The bears stepped up their efforts, pushing BTC to an intraday low of $ 37,500 on Bitstamp in the past 24 hours. Even so, Bitcoin refused to stay down and topped the $ 39,000 level again.

From a technical perspective, BTC's main obstacles are at $ 40,000, $ 40,735, $ ​​41,000, and its all-time high of $ 42,000. Alternatively, the support lines could be included at $ 38,550, $ 38,000, and $ 37,350 in case of a price breakdown.

Doge returns to the top 10 and the bottom caps explode

Most of the altcoin market has been on a roll lately which resulted in several all time high records for Ethereum, Binance Coin, Polkadot, Wire Mesh and many more. However, since yesterday the situation is a little different.

Ethereum, Cardano, Polkadot and Chainlink have seen slight gains, while XRP and Litecoin are slightly in the red.

The BNB has gained around 8% in value and is approaching its record price of over USD 75. Perhaps what is more persuasive is the return of Dogecoin to the top 10 after climbing 20% to $ 0.07. This comes after significant interest in the meme coin from Elon Musk, the Winklevoss twins, Snoop Dogg, and others.

The situation within the low and medium cap altcoins is much more volatile. Avalanche gained the most, up 50%, 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, those rising alts reduced BTC's dominance to below 61% after the metric neared 62% over the weekend.

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