The entire market was doing great as the bulls were all over the market. However, one asset wasn’t matching the ongoing notion. Dogecoin [DOGE], despite amassing massive gains over the week was seen dropping down. While the whole crypto market was surging to new highs, DOGE was stuck at a weekly low.
Bitcoin [BTC] was back in action as the king coin rose to a high of $54K with a 5.16% soar over the last 24-hours. The king coin’s market cap had finally hit a high of $1 trillion. All the other assets mirrored this emotion. SHIBA INU [SHIB] with a whopping 50% surge over the last 24-hours, was the star of the show. The altcoin managed to beat prominent assets like Litecoin [LTC], Chainlink [LINK] as well as Bitcoin Cash [BCH] in terms of market cap.
While all these assets were trying to make it big, Dogecoin [DOGE] was seen smeared in red. At the time of writing, DOGE was trading for $0.24 with a 2.15% drop over the previous 24-hours. The past couple of days have been extremely beneficial for the altcoin as it managed to bag gains of up to 22%.
The market cap of the meme coin was at $32.2 billion further allowing the coin a spot as the tenth-largest cryptocurrency.
Dogecoin [DOGE] one-hour price chart on Binance
The short-term price chart or one-hour chart of DOGE revealed contradicting notions. The Awesome Oscillator indicator noted that the bulls were slowly trying to make a come back into the DOGE market by laying out green closing bars. However, the MACD indicator was still in a bearish crossover. With the signal line residing over the MACD line, DOGE has been in this zone since yesterday.
Furthermore, the Relative Strength Index [RSI] indicator revealed that Dogecoin was in the sellers’ zone as the RSI marker was down below the 50 median.