May 14, 2021

Cryptheory

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Dogecoin: price of DOGE rises, +220% in one day

2 min read

The day sees the price of Dogecoin (DOGE) flying like a rocket, with a daily rise of 220% and a price that for the first time in history rises to 45 cents on the dollar. 

DOGE 20210416

A week of historical records is coming to an end. BTC has been close to the $65,000 mark for the first time in recent days, while ETH has risen above $2,540 for the first time in history.

The week is set to end positively for the third time in a row, which has not happened since last February.

Dogecoin, price rises and volumes explode

Volumes continue to climb and in the last 24 hours have reached nearly $1 trillion on the major exchanges. Dogecoin volumes are also exploding, exceeding $30 billion in the last 24 hours, tripling BTC’s daily trades, five times higher than ETH’s volumes on major exchanges. 

To compare with BTC’s highest records traded within 24 hours, on only two occasions, in January and February this year, BTC traded $27 billion for the first time. 

This is due to Elon Musk’s tweets returning to support DOGE’s bullish momentum. 

This brings DOGE to climb to the 5th position for the first time in terms of capitalization, the highest ever in the cryptocurrency’s history. 

In contrast to the past few days, Ripple (XRP) has seen one of its worst declines to date, falling about 14% and failing to break through the $2 mark, a level it had touched during the week. 

DeFiPulse 20210416

DeFi has been close to $60 billion worth of collateral in recent hours. 

The new records are due to the appreciation of the value of ETH, which has fallen from its historical highs reached at the beginning of April. Meanwhile, the slow rise of tokenized BTC continues, rising above 147,800 BTC for the first time since the beginning of February.

At this time, the total value of tokenized BTC on decentralized finance projects reached a new all-time high with more than 12.3 billion in dollar value. 

BTC 20210416
BTC chart by Tradingview

BTC (BTC)

The week of glory for BTC is set to end with prices above $61,000. If this level is confirmed by Sunday evening’s close, the bullish movement that began at the end of January will be consolidated. Next week it will be important for the price of BTC not to fall below $58,000, a level that coincides with the bullish dynamic support. 

ETH 20210416
ETH chart by Tradingview

ETH (ETH)

ETH in recent hours recorded new historical records, pushing above $2,500 for the first time, only to retrace in recent hours by more than $200. It is a movement that is not worrying, as it is due to profit-taking. For ETH, danger levels will only arise with a return below 1,900 dollars. 

 

The post Dogecoin: price of DOGE rises, +220% in one day appeared first on The Cryptonomist.

Source link

Leave a Reply

Your email address will not be published.