DOGE Plunges by Double Digits Daily as BTC Price Slides Below $115K: Market Watch

1 month ago 26

Bitcoin’s Monday began on a positive note, but the bears quickly reemerged and halted the asset’s ascent by pushing it south to under $115,000.

The altcoins have followed suit, with even more painful declines from ETH, XRP, and especially DOGE, which has posted a massive daily drop.

BTC Falls Below $115K

The past several days were going rather well for the primary cryptocurrency. Its gradual recovery began last Tuesday when the asset dropped to $111,000 and the bulls stepped up. Instead of another crash below $110,000, they started to drive BTC north. The culmination during the business week came on Friday, when bitcoin topped $116,000.

It faced an immediate rejection at that level but initiated another leg up on Saturday morning. This time, it climbed to $116,800 but failed once again and spent most of the weekend sideways around $116,000.

As hinted above, Monday started on the right foot, with BTC nearing $117,000 once again. However, the scenario repeated, but this rejection pushed it to below $115,000 for the first time since Friday.

Its market capitalization has dropped below $2.290 trillion on CG, while its dominance over the alts has shot up to 56% as most of them have marked even more significant declines.

DOGE Leads the Way Down

Dogecoin is among the poorest performers in the past 24 hours, after its superb surge during the weekend. The asset is down by almost 10% and now struggles to remain above $0.26. Solana, Cardano, and SUI have dropped by somewhere around 5-6%. LINK and AVAX are down by 5% each.

Ethereum failed at $4,750 during the weekend and is now just inches above $4,500 after a 3% daily decline. XRP has slipped below a key support level following a 3.5% drop. XMR is the only exception from the larger-cap alts, surging by 8% to almost $310.

The cumulative market cap of all crypto assets has lost approximately $80 billion since yesterday and is below $4.090 trillion on CG.