Dogecoin Jumps to 3-Year High Price—Before Bitcoin Cools and Meme Coins Plunge
From decrypt by Andrew Hayward
Dogecoin got another leg up late Friday and into early Saturday, climbing to a price point not seen in over three years. But it has since fallen, with DOGE and other top meme coins among the biggest losers of the last 24 hours.
DOGE popped above the $0.475 mark on Saturday morning—the first time that the meme coin had risen that high since May 2021. Dogecoin has been on a torrid surge in recent weeks, starting before the election and becoming substantially more explosive in the days after.
Previously, in terms of recent moves, DOGE had previously popped as high as nearly $0.43 on November 13; at the time, it was a three-year high mark, but that local peak has since been topped. DOGE is now up 195% over the last 30 days, and 430% over the past year, per data from CoinGecko .
It was a short-lived peak, however, as is typical for such a volatile coin. DOGE is now down to about $0.41 as of this writing as the broader crypto market cools after last week's surge. Bitcoin , for example, has now dipped to a price of $96,725 after setting a new all-time high price of $99,645 on Friday and coming close to the $100,000 milestone mark .
Dogecoin is now down 12% over the past 24 hours, though it's not the biggest loser from the top 10 cryptocurrencies by market cap: XRP has dipped by 14% during the same span after pushing to its own three-year-high mark on Friday.
Zooming out, however, it is mostly meme coins that have fallen the hardest out of the top 100 coins over the past 24 hours. Brett (BRETT), Bonk (BONK), Popcat (POPCAT), Dogwifhat (WIF), Pepe (PEPE), and Floki (FLOKI) have all fallen by 10% or more during that span, alongside Dogecoin. Broadly, the crypto market is down by nearly 5% over the past day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI boom reshapes the wafer foundry landscape! UBS: Explosive demand accelerates advanced process expansion, mature process enters upward cycle
UBS stated in a recent research report that within the foundry market, the Total Addressable Market (TAM) for the N2 (2nm) node far exceeds expectations, A14 (1.4nm) production expansion is accelerating, and the upcycle for mature process nodes has already begun.
$1,999 Foldable iPhone Is Ready, but Apple (AAPL.US) Faces Over $5.7 Billion Patent Penalty
As Apple intensifies its efforts in foldable displays and AI business, it faces a haptic technology patent compensation ruling exceeding $5.7 billion. On September 25, a federal jury in California found that Apple's Taptic Engine, used in certain iPhone and Apple Watch models, infringed on two patents held by Taction Technology.
Prospects for the opening of the Hormuz Strait are overshadowed, Asian bonds under pressure: 2Y Japanese bond yield approaches 2%, 3Y Korean bond yield rises to highest level since 2022
With high oil prices, short-term bond yields in South Korea and Japan have risen.
5% US Treasury pressure weighs on global assets, while Australian government bonds open up a window for allocation? Fixed income giant Pimco calls the rate hike expectations too aggressive
Pacific Investment Management Company (Pimco) holds a constructive view on Australian bonds, believing that market expectations for rate hikes are too high. Pimco stated that the rate hike cycle in Australia has been "fully priced in," and cracks are beginning to appear in the economy, making Australian bonds look attractive, especially in the 5- to 10-year segment of the yield curve.
Crypto prices
More
