Dogecoin and Cardano Price Surges as Crypto Market Valuation Reaches $3.5 Trillion
Dogecoin and Cardano have been making some big waves in the crypto market recently, with the total market capitalization surpassing an impressive $3.5 trillion. In this exciting time for crypto, Dogecoin and Cardano have stood out as top performers.
Dogecoin, known for its meme-worthy origins, saw a 27% rise this week, hitting a yearly peak of $0.48 before settling at $0.4287. With a 210% gain over the past month, Dogecoin is currently the fourth most traded cryptocurrency, with 24-hour volumes reaching $26 billion. Analysts are eyeing a potential retest of the $0.73 price level and have even higher targets in mind for 2025.
Cardano, on the other hand, crossed the $1 price level for the first time since April 2022. The altcoin climbed 43.7% over the past week, trading at $1.08 at the time of writing. Its daily trading volume surged by 86% to $8.1 billion, indicating increased market activity. Whales have been showing interest in Cardano, with a significant increase in whale holder netflow.
It’s important to note that Bitcoin’s price action often influences Altcoins, so with Bitcoin steadily climbing towards $100,000, we can expect to see more positive movements in the Altcoin market as well. Despite coming close, Bitcoin has yet to hit the $100,000 milestone that many in the industry are eagerly awaiting.
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