In summary
- Bitcoin surpassed $100,000 on December 4, but markets have shown high volatility since then.
- Dogecoin lost 19% from its recent high of $0.48, closing the week down 15%.
- Other major memecoins such as WIF and BONK fell 28% and 23%, respectively, during the same period.
Cryptocurrency markets have seen intense volatility since Bitcoin surpassed the $100,000 mark for the first time on December 4, with multiple declines sending shockwaves sinking other assets and racking up selloffs in the process.
But while Bitcoin has largely recovered from considerable declines, Dogecoin has lost considerable momentum over the past week since hitting a high of $0.48 for the first time since 2021.
At a current price just below $0.39, Dogecoin has fallen nearly 19% since that peak seen at the end of December 7. And over the last seven days, including data from the hours before that recent high, DOGE is down 15%.
This makes it the biggest loser among the top 10 cryptocurrencies by market cap, surpassing Cardano with a 13% drop over that period, and Solana with a 10% correction. Bitcoin is the only asset in the top 10 that is in the green for the week, up 0.7% at the time of writing, to a current price of $100,995.
Looking beyond the top 10, other major memecoins that stand out among the top 100 cryptocurrencies have posted even steeper losses over the past week.
Dogwifhat (WIF) is the biggest loser in the top 100, down 28% over that period, while Bonk (BONK) is down 23%, Brett (BRETT) is down 22%, and Shiba Inu (SHIB) is down 22%. matched the fall of DOGE by 15%.
Overall, the cryptocurrency market has fallen 3% in the last 24 hours, according to data from CoinGecko.
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