Dogecoin has soared by over 110% for the past week, as Elon Musk finally purchased Twitter.
Dogecoin continues to steal the show ever since Elon Musk’s acquisition of Twitter became official, being up by triple-digits on a weekly scale.It’s safe to say that the original memecoin is this week’s best performer. Up until Wednesday, Dogecoin struggled around $0.07, along with the rest of the market.
Nevertheless, the cumulative market cap of all crypto assets has remained well above $1.1 trillion, given the boost provided by Dogecoin’s gains.The primary cryptocurrency has also been on a roll for the past several days, albeit in a more modest fashion than DOGE. It jumped to and beyond $20,000 on Tuesday and hasn’t looked back since. The only dip towards that level came after the ECB announced the latest interest rate hike, which pushed BTC south from $21,000 to just over $20,000.
However, the bulls managed to maintain that level and initiated another leg-up hours later. This resulted in briefly exceeding $21,000 and charting a new 6-week high. Similar to the previous attempt, though, this one failed, and bitcoin has since retraced by a few hundred dollars. As of now, it trades at around $20,500. Its market cap is close to $400 billion, but its dominance over the alts has taken a slight hit and is under 39%.