Cryptocurrency Market Update: Dogecoin Barking at The Moon
Markets recovering slowly; Dogecoin, EOS, Dash and Monero doing well.
Things are looking brighter as we enter the weekend in crypto land. Green is across the board as markets head back over $230 billion and are poised for further gains.
Bitcoin made it back across the $7k barrier and has posted a 1.4% gain on the day to trade at $7,070 and further bullish moves are expected. Ethereum is still oscillating between $280 and $290 and cannot seem to make any progress above its major resistance level. ETH is up 2% on the day however and is currently sitting at $287.
Altcoins are looking much better today following a day of inactivity yesterday. EOS is making the biggest moves in the top ten with a 7.5% climb to $6.65. Over the week EOS has recovered 33% from a low of below $5 this time last Saturday. Litecoin and Cardano are also doing a bit better today with gains over 5%.
Privacy coins Dash and Monero are both enjoying double figure gains of 15% and 12% respectively. Neo and Nem are the next two in the top twenty recovering today with 7% gains and the rest are all in the green by at least 2%.
Dogecoin is barking at the moon today with a 56% jump to $0.0057 or 82 satoshis. Trade volume has surged by 200% in 24 hours to $140 million which has pushed market cap up to $657 million and DOGE into 21st position above OmiseGO, Lisk and Ontology. In addition to Bitcoin, Ethereum and Litecoin, Dogecoin has also been listed on the Yahoo Finance iOS trading app which has caused the resultant price pump.
An obscure entry by AurumCoin can be seen on Coinmarketcap at the moment posting a 5,750% pump from nothing and it all appears to be one trade on an equally obscure exchange, Cryptohub. It is likely to disappear as quickly as it arrived when the real market cap is worked out. Reddcoin and Siacoin are also making moves today with 33% and 18% jumps respectively.
Total crypto market capitalization has gained 2.6% on the day to $232 billion, its highest level since August 10. The recovery has been slow and steady over the past couple of weeks which is a better sign than unnatural pumps which are often followed by the opposite action.
More on Dogecoin can be found here: http://dogecoin.com/
FOMO Moments is a section that takes a daily look at the top 30 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.