Hello! GMW here!
Dogecoin is up 16.84% in the last 24 hours. The current CoinMarketCap ranking is #4, with a live market cap of $92,731,382,084 USD. (Source: CoinMarketCap)
One of the big moves this week was Doge overtaking XRP in terms of market cap. This is actually interesting as there are a couple of coins contending for the space, a little swing in either direction is swapping out the 4th spot potentially.
But the question that comes to mind is: "How does dodgecoin influence the cryptocurrency market?" Well, lately when the dodgecoin grows most cryptocurrencies fall around 10% of their value. Thus we witness a small BearMarket that usually ends after 2-3 days. After all this hype, there is the part where it is sold and reinvested in other cryptocurrencies. For example on Tuesday the DODGECOIN reached $ 0.73 in just 3 hours, and the next day it dropped to $ 0.5, while the ADA rose from $ 1.34 to $ 1.70, XRP from $ 1.40 to $ 1.68, and ETH reached $ 3,500 ATH. As the name Dodgecoin tells it, it is a PUMP and DUMP coin, which means that its purpose is to offer you a short-term profit, or a launching pad for beginners who want to get used to the crypto market, but also experienced.![coins_crypto.png]
Cardano showed up with this heavy bullish move to the upside marking above important resistances and holding there besides that Cardano sufficiently broke out above the upper boundary of the major channel-formation where it is now forming this triangle-formation which is confirming the breakout.
