Now, as the larger market begins to show signs of life, the price of DOGE has begun to flatten off. Currently, DOGE is down over 6% while the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, is up 4% in the last 24 hours. Notably, DOGE is the only top-30 coin that is down at this time.
The fact that DOGE is down while the rest of the market is up indicates that investors have rotated their gains into coins that are primed for larger gains in the near term. This should not come as much of a surprise, as even Ethereum (ETH) is up more than 12%.
Moving forward, investors should watch closely to see how DOGE trades relative to the larger market.
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.