Dogecoin Records 10-Week Peak, ETH Gains Momentum And Other Altcoins Gain
October 29 2022 - 5:20AM
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A lot of positive price movement kicked off recently; the crypto
market is enjoying a bullish run as Dogecoin and Bitcoin jumped
beyond the previous levels, which had become a feat seemingly
unachievable. Ethereum also recorded some gains for the first time
after its merge. However, recall that the upgrade was already
priced in before it took place. So, while many investors expected
the number two crypto to gain, ETH plummeted from above $1,500 to
sit at $1,300 for a long time. Related Reading: Why Crypto Market
Fear Mirrors Lull In Volatility Other altcoins weren’t performing
better following the continuous Feds interest rate hike due to the
inflation. But the tides turned from October 25, and today, one of
the altcoins showing bullish momentum is Dogecoin DOGE. Dogecoin
Takes The Lead In Price Gains Currently, the memecoin DOGE is
leading in price gain. However, in the next 24 hours following the
market rally, the crypto surged by a significant score, reaching
what analysts observe as its 10-week peak. Dogecoin tried to
sustain the gain but couldn’t. It later started a downtrend that
landed it a 14% price gain. Surprisingly, even with the lower
level, DOGE still leads the entire crypto market. While others are
red in hourly, 24-hour, and seven days price growth, DOGE is
pushing its price to $0.08596. The price push for DOGE came after
Elon Musk visited Twitter’s HQ. Recall that Musk is a great
supporter of the memecoin. Activities around the billionaire affect
the price of Dogecoin. BTC Experienced The $21K level As the market
rallied, Bitcoin, that have been sitting at the $19K price level,
spiked. As of October 26, the number crypto even tapped the $21k
price level, to the surprise of all. Analysts have connected the
price increase to the reports that the Bank of Canada might relax
its interest rate hikes. BTC price currently stands at $20,695,
showing a short gain. Even though BTC has climbed from its highest
level of October 26, it still holds above the $20K mark. Ethereum
And Other Altcoins Gained During Rally Many altcoins weren’t left
out during the brief price rally. For example, the crypto market
saw Ethereum jumping from the coveted $1,350 to above $1,500.
Related Reading: The Inverted Bitcoin Chart Bears Don’t want a See
| BTCUSD Analysis October 27, 2022 Currently, the price of ETH
stands above $1,600 after. This increase is impressive, given that
the coin hasn’t reacted positively since its September 15 upgrade.
Other cryptocurrencies that gained massively relaxed at specific
prices, while digital assets are currently in the red. Featured
Image From Pixabay, Charts From Tradingview
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