[Investment] Bitcoin Opens Higher While DOGE Plummets by 7%
The cryptocurrency market opened relatively calm on this Good Friday (7th), with Bitcoin (BTC) slightly up. According to CoinGecko, all cryptocurrencies in the Top 10 are showing gains of up to 3%. The biggest highlight is XRP, which is up 2.2% and is priced at $0.50, or just over R$ 2.50.
Meanwhile, Bitcoin is operating almost stable, with a slight increase of 0.4%, and is worth $27,915, or about R$ 142,000. The cryptocurrency's price has fallen by 1% in the last seven days and continues to struggle to break through the important $28,600 mark.
On the other hand, Dogecoin (DOGE) was a negative highlight, with a sharp drop of 7.3% in the last 24 hours. Ether (ETH) is also trading down (0.4%) and has reached a price of R$ 9,374, while MATIC is down 0.9% and is worth R$ 5.58.
The total market value of cryptocurrencies reached R$ 6.18 trillion, up 0.1%, with a total volume of R$ 260 billion. USDT leads the market in terms of volumes, moving R$ 105 billion in the last 24 hours, followed by Bitcoin, which moved R$ 59 billion.
Finally, BTC dominance rose to 44.2% and ETH dominance reached 18.3%.
What goes up must come down
This week, DOGE surprised positively by appreciating around 30% on Monday (3rd), after Elon Musk put the cryptocurrency's logo as the logo of Twitter. The reason was just the hype created by the billionaire around his favorite meme cryptocurrency.
Just as DOGE rose for this reason, it also fell in price on Friday because of Musk. Twitter reverted back to its original logo, which contributed to DOGE's loss in value.
Along with DOGE, other meme cryptocurrencies also experienced drops, such as Shiba Inu (SHIB), which lost 0.4%, and Floki Inu (FLOKI), which fell 2.3%.
Among the largest classes of cryptocurrencies, only stablecoins recorded any appreciation, with the market rising an average of 0.8%. USDT is up 0.7%, while its rivals BUSD and USDC are up 0.4% each.
Volumes and futures
BTC futures fell again in the last 24 hours, registering losses of 31.49%. According to Coinglass, the market moved around $59.5 billion in futures. Liquidated positions fell 46.4% and reached $49.4 billion.
In terms of other volumes, ETH moved R$ 50 billion and recorded a 27% drop in futures, which reached $21 billion in the last 24 hours.