Dogecoin Records 10-Week Peak, ETH Gains Momentum And Other Altcoins Gain

A lot of positive price movement kicked off recently; the crypto market is enjoying a bullish run as Dogecoin and Bitcoin jumped beyond the previous levels, which had become a feat seemingly unachievable. Ethereum also recorded some gains for the first time after its merge. However, recall that the upgrade was already priced in before it took place. So, while many investors expected the number two crypto to gain, ETH plummeted from above $1,500 to sit at $1,300 for a long time. Related Reading: Why Crypto Market Fear Mirrors Lull In Volatility Other altcoins weren’t performing better following the continuous Feds interest rate hike due to the inflation. But the tides turned from October 25, and today, one of the altcoins showing bullish momentum is Dogecoin DOGE. Dogecoin Takes The Lead In Price Gains Currently, the memecoin DOGE is leading in price gain. However, in the next 24 hours following the market rally, the crypto surged by a significant score, reaching what analysts observe as its 10-week peak. Dogecoin tried to sustain the gain but couldn’t. It later started a downtrend that landed it a 14% price gain. Surprisingly, even with the lower level, DOGE still leads the entire crypto market. While others are red in hourly, 24-hour, and seven days price growth, DOGE is pushing its price to $0.08596. The price push for DOGE came after Elon Musk visited Twitter’s HQ. Recall that Musk is a great supporter of the memecoin. Activities around the billionaire affect the price of Dogecoin. BTC Experienced The $21K level As the market rallied, Bitcoin, that have been sitting at the $19K price level, spiked. As of October 26, the number crypto even tapped the $21k price level, to the surprise of all. Analysts have connected the price increase to the reports that the Bank of Canada might relax its interest rate hikes. BTC price currently stands at $20,695, showing a short gain. Even though BTC has climbed from its highest level of October 26, it still holds above the $20K mark. Ethereum And Other Altcoins Gained During Rally Many altcoins weren’t left out during the brief price rally. For example, the crypto market saw Ethereum jumping from the coveted $1,350 to above $1,500. Related Reading: The Inverted Bitcoin Chart Bears Don’t want a See | BTCUSD Analysis October 27, 2022 Currently, the price of ETH stands above $1,600 after. This increase is impressive, given that the coin hasn’t reacted positively since its September 15 upgrade. Other cryptocurrencies that gained massively relaxed at specific prices, while digital assets are currently in the red. Featured Image From Pixabay, Charts From Tradingview

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Author: toutiao