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Monday, May 17, 2021

DOGE and MKR Surge, Market Cap Of Altcoin Exceeds $1 Trillion

Both Dogecoin (DOGE), as well as Maker (MKR), has been in the spotlight owing to the reason that there has been a lot of hype surrounding these coins. On the other hand, Bitcoin has consolidated its price to almost the $63,000 level.

Coinbase has recently registered on the direct stock listing and performing exceeding well. The traders are focusing back on the cryptocurrency sector because BTC price is regaining their footing by breaking through the $63,000 mark. These factors have also caused all the altcoins to move higher at an exponentially rapid pace increasing the overall value.

Rapid Increase For DOGE

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Since the time that BTC has been inching closer to the $65,000 mark to hit another all-time high, their price has declined to less than $62,000. Nonetheless, they regained their momentum owing to the great chance of purchasing.

According to the data of TradingView and Cointelegraph Markets, it is seen the BTC is gradually surging higher from the correction that took place on Wednesday. Moreover, the bulls have been trying to flip the mark of $63,500 to support resistance.

DOGE has emerged as the star crypto as they rallied almost 60% and the price reached a record high of $0.1918. This positive momentum of DOGE was stimulated by the repeated tweets by Elon Musk.

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Maker is another note-worthy altcoin that has been performing very well as they gained nearly 43%. Their ecosystem might soon acquire complete decentralization owing to their recent all-time high at $4,102.

BAND Protocol has also rallied a massive 38%, touching the $22.83 record high after the big announcement of Google Cloud integration.

The entire market cap of the cryptocurrency market is $2.26 trillion while BTC has a 53.7% dominance rate.

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