Dogecoin (DOGE) Surges by 8% in a Day as Bitcoin (BTC) Maintains Lateral Movement During the Weekend

There’s been little change in Bitcoin’s price as it continues to hover around the $41,500 level over the weekend, demonstrating an unusual calm.

Similarly, most altcoins are experiencing a period of stagnation, with only modest upticks in cryptocurrencies such as ETH, SOL, XRP, BNB, and ADA.

Persistent Dormancy in BTC

Last week’s ETF approvals arrived with heightened volatility, leading to sharp swings in BTC’s price, including a surge to $49,000—a 21-month record—on Thursday following their entry into US financial markets. However, the rise was short-lived, and by Friday evening the price had plunged back to $41,500. Since then, there’s been little to no significant price movement.

Bitcoin has largely stayed beneath the $43,000 mark over the past week. The weekend also didn’t offer much excitement, with resistance being met near the $42,000 threshold.

Bitcoin’s market cap is sitting just above $815 billion, with its dominance index lingering just below 50% in comparison to altcoins.

Alts Inch Forward, DOGE Rallies

Within the same period, the broader altcoin market has mirrored the sluggishness of Bitcoin. Minor advances can be observed in larger caps such as ETH, SOL, XRP, BNB, ADA, DOT, and TRX, which have nudged upward by nearly 1%.

A select few like Avalanche, Toncoin, and Polygon have ascended closer to 3%. Notably, Dogecoin has become the highlight with an 8% increase, positioning itself above $0.085.

Other digital currencies including Ronin, PYTH, SC, and ASTR have reported double-digit percentage growths.

Recovering from previous losses, the aggregate valuation of the cryptocurrency market now stands at approximately $1.640 trillion according to CoinMarketCap (CMC).