- Bitcoin has failed to break and hold above $69,000 and turn it into support.
- ETH has displayed underwhelming performance, up 40% in one year.
- Dogecoin has surged 25% in the past 30 days and dominates the meme coin space.
Bitcoin (BTC) has been consolidating between $67,000 and $69,000 for the past week. The cryptocurrency is aiming for higher prices, but buying volume remains low. In the past 24 hours, BTC’s trading volume fell 10% to $30 billion, reflecting a sluggish broader crypto market.
According to CoinMarketCap data, Bitcoin’s market cap stands at a massive $1.4 trillion and the leading cryptocurrency is just 8.6% off from its all-time high of $73,750 witnessed in March this year. Bitcoin has made several unsuccessful attempts to reclaim the $69,000 price level. In the past 24 hours, it reached a daily high of $68,798.96 before falling to a low of $66,683.84.
The Bitcoin Relative Strength Index (RSI) is at 59.41, indicating that bulls are generally in control. However, the RSI suggests that lower prices are possible if buyers don’t step in.
Meanwhile, ETH is trading at $2,480.78, down 2.60% in the past 24 hours, with a market cap of $15.94 billion. ETH has fallen 5.06% in the past 30 days and 5.59% in the last week, making it one of the weaker performing altcoins. It is up only 40.88% since October of last year, compared to Bitcoin’s stronger performance.
Dogecoin Outperforms Shiba Inu
Dogecoin (DOGE), the largest meme coin with a market cap of $20 billion, has gained 25% in the past month, outperforming Shiba Inu (SHIB).
Read also: Shiba Inu (SHIB) Charts Suggest Potential for Larger Upward Diagonal
At the time of writing, DOGE is trading at $0.1375, down 0.75% in the past 24 hours with a trading volume of $1.28 billion. DOGE has surged 110.70% since October 2023.
On the other, SHIB is trading at $0.00001755, down 0.68% in the past 24 hours. It is important to note that SHIB’s volume is significantly lower than DOGE’s, around $220 million, confirming Dogecoin’s dominance over Shiba Inu.
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