Cryptocurrency Market Update: Dogecoin Making a Comeback


Another weekend of inactivity in crypto land; Dogecoin and Electroneum moving, Revain diving.

More of the same is about the only thing that can be said about crypto markets as we enter the weekend. Another week with virtually no movement means that total market capitalization is still around $210 billion where is has been for the past fortnight.

Bitcoin remains in a consolidating channel just below $6,500. It has not moved out of this range since the October 15 spike to $6,700 which saw a rapid bounce off strong resistance. The crypto sphere is still waiting for something to happen in the Bitcoin camp. Until then everything remains flat including Ethereum which is still stuck at around $205.

The altcoins are mixed today about half and half and as has been the case all week, gains or losses are marginal for most of them. Nothing has moved more than a percent in either direction over the past 24 hours in the top ten.

A little more movement has come further down the chart in the top twenty with Tron showing the biggest gain in this group. TRX is up 2.7% on the day to reach $0.0236. Zcash and VeChain have dropped back 2% each but nothing else notable is happening.

Just outside the top twenty is Dogecoin making a run today with a 12% pump. DOGE spiked a couple of hours ago and is now at 65 satoshis ($0.0042). There is not much on the Dogecoin twitter feed aside from the usual bunch of doggie memes indicating that a dump is likely to follow for this clown of crypto.

Today’s big pump is coming from Electroneum which has surged 27% during the Asian trading session this morning. A partnership with Turkey’s top crypto exchange which will provide fiat pairs for ETN has driven momentum. At the messy end of the table is Revain getting trounced 14% and leading the losers in the top one hundred.

There has still been no change in total crypto market capitalization which remains at $209 billion. It has ranged between $212 and $207 billion this week and has not been out of this channel since mid-October when markets jumped from $200 billion. Bitcoin dominance has also not moved and remains at 53.7%.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

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