The Shiba Inu sensation, Dogecoin (DOGE) again looks to resist this dreadful market. The last month of 2018 started with a positive sign when the market looked to rising. But today the crypto market looks to be horrific. The bearish market has been on a higher mode in the last few hours, as the market cap in total has dropped up to $107 billion, which was almost $250 billion couple of months ago. This whole year has been tough ask for the market but the end of 2018 seems too much tougher.
Yesterday, the price of Bitcoin (BTC) dropped below the $4,000 USD mark and at the time of writing, BTC was moving down with a rate of –10% in the last 24 hours. All the altcoins are down by an average rate of almost –10% because of BTC’s collapse. The price of Bitcoin was around $3,390 USD, which shows that how much Bitcoin has dropped in recent bear markets. Almost, a month ago Bitcoin was trading around $6,500 USD.
This successive drop in Bitcoin’s price in the last couple of weeks has turned out to be a ruthless experience for other altcoins and very fewer coins have able to resist this bear market. One of those altcoins has been the ‘meme coin’. Dogecoin (DOGE) has tried to resist this bear market too. In the last seven days, Dogecoin just dropped up to –6% and most of the other altcoins have dropped up to an average of –20%. Whereas, Dogecoin has declined to –6% which is quite impressive considering the performance of most of the other top coins.
Considering the performance of Dogecoin (DOGE) in these recent bear market the investors need to buy more DOGE’s because it is indicating to go very high in the upcoming bull run. The market is expected to pick up pace very soon and Dogecoin will be one of the top gainers in the bull market, just like it is one of the best performers of this bear market.
This seems to be an enjoying moment for Dogecoin users because DOGE is still trading around $0.002 mark for the last few weeks. Due to other coins dropping excessively Dogecoin (DOGE) has surged up in ranking and currently, it is trading on 20th spot in the coinmarketcap.
At the time of writing, Dogecoin (DOGE) had dropped up to only –5% keeping in mind that other coins have dropped more than –10% in last whole day. If Dogecoin does not drop to –10% in the next few hours that it will be a big win for the meme coin, which means that Dogecoin would trade around $0.002 USD mark. When comparing with BTC, the digital asset was surging up with a rate of +5%. The market cap of Dogecoin (DOGE) was $244 million has a trading volume of $28 million. Looking forward, Dogecoin seems to outperform the top digital assets assessing the market.