Now is maybe a good time to buy cryptocurrency after its recent price drop to almost $10,000 for Bitcoin and $400 for Ethereum as investors have traded and liquidated their shares of the digital money. However, the meme cryptocurrency remains a top earner over the weekend, as Dogecoin maintains its popularity in the market.
Last week, a surge in the popular crypto money has taken place and enjoyed the ride brought by the upcoming initial public offering (IPO) of Coinbase, a new company offering cryptocurrency. While Coinbase is different from the rest because of its direct trading for its investors and customers, it still sees massive popularity like BTC and ETH.
Cryptocurrency Price Drop is Massive
According to the popular cryptocurrency tracking app called "CoinMarketCap," while last week has seen a surge in cryptocurrency, one weekend has changed all that, turning it into a dragging week today. Over the weekend, massive drops from Bitcoin and Ethereum were seen by the application, which was unprecedented and unexpected.
However, there was a cryptocurrency that has enjoyed its growth last week and has maintained it for this week as it sees a steady trend in its valuation in the market. The digital money in question is "Dogecoin," which is also know as the meme cryptocurrency that was launched in 2018, only seeing its prominence now.
Bitcoin or BTC has closed at more than $61,000 last Friday, after seeing a surge that put it atop the map, trading at $63,000 at one point over the past week. The massive selling price of the cryptocurrency has made it a tough price to pay, but CoinMarketCap revealed that from its closing price, it is now down to $52,000 which has happened over the past 24 hours.
On the other hand, the next-in-line and fast-growing cryptocurrency called "ether" or its platform Ethereum (ETH), has also suffered more than 17 percent of the decline. Its recent high has valued it at $2,417 to $2,000. This is a decline of $400, which is a massive letdown for the growing form of blockchain digital money, especially for its investors.
Dogecoin, to the Moon
However, one crypto money has remained, and that is Dogecoin which has been one of the rapidly increasing shares, especially as it jumped from $0.10 to $0.40 in value. Moreover, its 400 percent jump last week has put it at $40 billion, which is a massive one for a starting cryptocurrency with a low trade value.
Everything to the moon!— Elon Musk (@elonmusk) April 17, 2021
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Written by Isaiah Alonzo