DOGE Tapped 3-Month High Following Musk Engagement, BTC Sustains $29K: Market Watch

Bitcoin dipped below $29,000 recently to chart a monthly low but has managed to bounce off and currently sits above that level.

The altcoins also experienced price declines in the past few days, but some, such as DOGE and XRP, have charted some minor gains today.

BTC Maintains $29K

Last week was a rather calm one, which the primary cryptocurrency spent in a tight range of around $30,000. The weekend was similar, and it wasn’t until Sunday that the asset finally tried to break out.

This leg-up resulted in BTC exceeding $30,300, but that turned out to be a false breakout. Shortly after, BTC started losing ground and slipped back down to $30,000. However, the worst was yet to come as bitcoin further dumped by a grand to just under $29,000.

This became its lowest price tag in over a month. Since then, BTC has managed to recover some ground and currently sits a few hundred dollars above $29,000.

Nevertheless, its market capitalization still struggles below $570 billion, while its dominance over the alts is stuck at 48.4%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

DOGE Sees 3-Month High

As mentioned above, most altcoins bled out in the past few days, but the landscape today is slightly different.

Dogecoin leads the rally, with another 5% surge on a 24-hour scale. Furthermore, DOGE tapped $0.085 earlier today, fueled by the most recent Elon Musk-Twitter engagement, and the first-ever meme coin marked a 3-month peak.

Ripple’s native token is the second-best performer from the larger-cap alts. XRP is up by 2.5% and has tapped $0.7 once again.

Ethereum, Binance Coin, Solana, Tron, Litecoin, Polkadot, TONCOIN, and Shiba Inu are also in the green, albeit in a more modest fashion.

In contrast, Polygon, Filecoin, LDO, XLM, and NEAR have all retraced slightly by up to 3.5%.

The total crypto market cap has remained relatively stuck at just under $1.180 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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