Bitcoin (BTC) has been battling in the market, dropping over 2.6% in the past week. While BTC and the altcoin market continue to struggle, Solana memecoin Husky Inu (HINU) generated over $680,000 in its presale.
Bitcoin Loses Steam
Bitcoin Dominance (BTC.D) recently reached a high of 60.1% but has declined to around 50%. While a decline in BTC’s dominance was expected, a surge in altcoins was also expected. The past time has, however, revealed that the crypto market at large is losing steam, but top altcoins are stepping up to claim their share of the total market capitalization of cryptocurrencies.
Bitcoin Dominance measures BTC’s relative share or dominance in the overall crypto sector. This measure represents the percentage of Bitcoin’s total market cap compared to the total market cap of all cryptocurrencies combined.
Bitcoin currently trades for $94,916 – representing a weekly loss of over 2.6%.
Dogecoin (DOGE): The OG Memecoin
Dogecoin (DOGE), the top memecoin by market cap, exploded after Donald Trump’s victory over Kamala Harris in the US presidential election. DOGE ranks as the 7th largest crypto with a market cap exceeding $47.4 billion, and further gains are expected in the coming months. DOGE quickly rose through the ranks to become a household name in the crypto industry, owing its success to a strong community spurred by the involvement and endorsement of Elon Musk. The tech mogul is the world’s richest man, CEO of Tesla, and owner of social media platform X (formerly Twitter). Musk joined the Trump campaign, playing an integral role in the president-elect’s victory, and his involvement with the party could see DOGE run to new heights as the Trump administration comes into power.
DOGE’s value stepped into overdrive after Donald Trump released a
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Author: Jana Serfontein
