Classic Crypto Market Still Found With 12% Price Increase In Last 24 Hours
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- Dogecoin leading the rally
- Altcoins Rebound From A Strong Dive
The altcoin rally in the cryptocurrency market is continuing with most of the coins and coins recovering from the New Year’s Eve correction which has added to the correction in the market.
Dogecoin leading the rally
According to data from CoinMarketCap, Dogecoin is leading the altcoin recovery rally for coins and tokens with a capitalization of over $10 billion. In second place is Shiba Inu Mematocoin with 12% 24-hour growth, while Dogecoin is in first place with 13% price increase.
The sudden appearance of purchasing power on both Doge-related cryptocurrencies was a pleasant surprise for investors in both communities as no fundamental change has been observed in the sentiment or news background of those assets.
According to volume indicators on both TradingView and CoinMarketCap, the number of Dogecoin traders has not changed significantly, indicating that the price increase is supported by a change in investor sentiment.
Altcoins Rebound From A Strong Dive
According to the cryptocurrency market cap, the market has gained almost $100 billion in the past three days, excluding bitcoin. The data pertains to the average price action on altcoins such as Doge, Shiba and Matic.
The crypto market has also faced increased exchange inflows from altcoins like Ethereum, but other than that, no bearish signs have been observed on both on-chain and market indicators.
At press time, Dogecoin is trading at $0.17, showing its first short-term rally time since late December. The last time meme-coin investors experienced strong market performance from the coin was on December 14, when Tesla announced the acceptance of Dogecoin as a payment tool for its products.