The sell-off, which saw Bitcoin drop below $7,000, has hit major altcoins the hardest, with the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, currently down over 9%.
The biggest losers in the ALT100 include IOST (-20%), DigixDAO (-19.5%), Waltonchain (-18.7%), and AION (-17.3%).
However, one altcoin has been steady amidst the market bloodbath. Dogecoin (DOGE), a cryptocurrency based on a popular meme that boasts low-fee transactions and a scalable network, is currently only down 3.8% and continues to show strength after a week of gains.
DOGE has seen significant buyer interest over the past few weeks as it prepares to demo Dogethereum, an experimental effort to bring dogecoin to the Ethereum blockchain, enabling the use of Dogecoin with Ethereum smart contracts through a new DOGE-backed Ethereum token.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.