Volatility in Dogecoin (DOGE), the largest meme cryptocurrency by market value, has dwindled so much that it now looks more stable than the digital as
by market value, has dwindled so much that it now looks more stable than the digital asset industry leader, bitcoin .
DOGE has historically been more volatile than bitcoin, scaring risk-averse investors, understandably so, as BTC has been around since 2009 and has evolved as a macro asset, with increasing institutional participation over the past three years. DOGE, meantime, has been seen as a non-seriousBTC's 30-day realized volatility has dropped below that of DOGE, a rare event in the crypto market.
Bitcoin's dominance rate, or the share in the total crypto market, has surged to 50% from nearly 40% this year, a sign of liquidity being drained from alternative cryptocurrencies and into bitcoin. While the BTC price has gained 60% this year, DOGE has lost just over 12%, CoinDesk data show.
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