Why is the Bitcoin price stable and the Dogecoin price plummeting?
The cryptocurrency market is usually dynamic, but Bitcoin has maintained a relatively stable momentum recently. Since April 13, Bitcoin has fluctuated between $60,000 and $70,000, and this performance is also reflected in the crypto market sentiment indicator greed/fear index, which shows that recent "panic" sentiment has eased.
However, not all cryptocurrencies remain stable, for example, Dogecoin experienced a 27% price big dump, leaving many investors facing losses. More notably, other meme coins like PEPE and SHIB also saw declines, although not as severe as Dogecoin. This indicates that the meme coin sector is showing weakness.
Investing in cryptocurrencies requires caution, and a conservative strategy of buying and holding mainstream coins like BTC and ETH should be adopted, especially in the current market environment.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Why is the Bitcoin price stable and the Dogecoin price plummeting?
The cryptocurrency market is usually dynamic, but Bitcoin has maintained a relatively stable momentum recently. Since April 13, Bitcoin has fluctuated between $60,000 and $70,000, and this performance is also reflected in the crypto market sentiment indicator greed/fear index, which shows that recent "panic" sentiment has eased.
However, not all cryptocurrencies remain stable, for example, Dogecoin experienced a 27% price big dump, leaving many investors facing losses. More notably, other meme coins like PEPE and SHIB also saw declines, although not as severe as Dogecoin. This indicates that the meme coin sector is showing weakness.
Investing in cryptocurrencies requires caution, and a conservative strategy of buying and holding mainstream coins like BTC and ETH should be adopted, especially in the current market environment.