The cryptocurrency market has experienced a decline again as the leading cryptocurrency Bitcoin dropped by 1% in the last 24 hours, reaching levels of $27,200. However, despite the value losses in BTC and the downward trend in the market, there have been cryptocurrencies that continued to rise and stand out positively from the market.
Cryptocurrency Market in Decline
The cryptocurrency market, which experienced a strong surge on Tuesday, saw a decline again in the morning hours. The leading cryptocurrency Bitcoin (BTC) dropped below the $27,200 price levels. Ethereum (ETH), along with its recent value losses, started trading at $1,705, and many high-market-cap cryptocurrencies also experienced varying degrees of value losses throughout the day.
However, despite most altcoins starting the day with a decline, there were cryptocurrencies that continued to rise throughout the day. Dogecoin (DOGE), which has been on the rise since the morning hours, gained more than 1% in the last 24 hours, standing out positively from the market.
Continued Rise Despite Market Decline
With the value losses of the leading cryptocurrency BTC, dropping below the $27,200 levels, many cryptocurrencies accelerated their value losses throughout the day. However, despite the market decline, Dogecoin (DOGE) continued its rise, starting to trade at $0.066 with an average 1% increase in the last 24 hours, and stood out as one of the prominent cryptocurrencies of the day.
Although most cryptocurrencies started the day with a decline, Dogecoin gained more than 1% in the last 24 hours, according to CoinMarketCap data, and entered among the top 100 cryptocurrencies with the highest market capitalization as one of the cryptocurrencies with the highest percentage gains of the day. Dogecoin had previously experienced speculative rises compared to most cryptocurrencies, showing a higher price performance, especially after Tesla CEO Elon Musk added the Dogecoin symbol to his Twitter page, but then witnessed significant value losses.
Indeed, crypto analysis platform Santiment had previously published a report evaluating cryptocurrencies that stand out positively from the market and warned investors. Santiment suggested that the rises in more speculative cryptocurrencies such as Shiba Inu (SHIB) and Pepe (PEPE) could largely be due to the low volatility in the cryptocurrency market.
