Last week, the cryptocurrency market experienced a boom. The global crypto market cap grew by 16% to $2.32 trillion. During this trend, altcoins (like Ethereum) have been gaining in popularity.ETHDogecoinDOGEShiba Inu (SHIBThe top cryptocurrencys to watch on Monday are.
ETH surpasses $3,400
This week, ETH has increased by 9.6%.
Bitcoin (BTCEthereum, which has been gaining significant attention this week from the market, capitalized on it, achieving substantial gains beyond critical psychological thresholds, which had previously posed formidable obstacles during its previous rallies.
Ethereum began the week on a positive note. It had a three-day streak of impressive gains that spanned from February 26 to 28. During this time, the cryptocurrency has surpassed the psychological levels of $3,200 and 3,300.
Ethereum had a remarkable day on Feb. 28, when it surged 4.40% despite Bitcoin’s rise above $63,000. ETH did experience a decline on Feb. 29, after it reached a maximum of $3.521. The last time ETH was at the $3.500 level, it was in April of 2022, just before Terra caused the price to plummet.
The exchange rate increased on February 29th, causing a retest of $3,500. outflows, Ethereum faced intense bearish pressure, resulting in a 1.33% decline — this marked Ethereum’s first intraday loss for the week. ETH managed to hold $3,400 despite a recovery on March 1.
Despite being under selling pressure due to the rising inflows of exchange funds and a possible overbought RSI indicator, Ethereum is still trading above $3,400. At the time this report was made, it was currently at $3,411.
DOGE Records a 55% Surge
Dogecoin’s gains are much greater than Ethereum’s. DOGE was one of the biggest beneficiaries of the recent market uptrend, despite starting the week at just $0.08611.
Dogecoin was in a consolidation stage before the recent rally. It had fluctuated between $0.094 to $0.076 from the start of the year. $0.09438 acted as a formidable level of resistance. DOGE reached a high of $0.10058 on Feb. 27.
Dogecoin continued to hold its $0.094 resistance level after the $0.10 correction. It ended Feb. 27 with a $0.00766 intraday gain of 9.45%. The meme coin grew on this momentum to achieve a substantial gain of 18.69% on February 28 as it exceeded the $0.11 and $0.0012 levels.
DOGE continued its upward trend until it reached a 16-month peak of $0.15074, on March 2. Dogecoin opened at $0.08611, a price that was 75% higher. Tokens faced stiff resistance at $0.15 but remained above $0.14 to close the day at $0.14206.
Dogecoin experienced a significant retracement today from the highs of March 2, as the market corrected from the uptrend that lasted a week. DOGE, despite these bearish developments maintains a substantial 55% week-long gain, currently trading at $0.0013335.
SHIB is among the top gainers
The crypto market experienced a resurgence Shiba inu was one of those meme coins that grew the most during the uptrend. SHIB started the week trading at $0.000009, the same level it traded at during the previous bearish market consolidation phase.
Shiba inu was trading above $0.000009, and the goal was to leverage this threshold for larger gains when a positive market trend occurs. This plan was successful, as Shiba Inu took advantage of Bitcoin’s rally to make one of the largest weekly gains.
SHIB posted multiple intraday gains of a substantial nature, the lowest being 4.18% on February 26.
The month of march was a good one for the token. It recorded its highest intraday gains in March 1, with a 34.33% increase, and on March 2, it soared 33.93%. SHIB eventually overtook MATIC, TRX and DOT to become the 12th most valuable asset in terms of market capital.
SHIB broke through the $0.00001 and $0.000002 zones during this price surge, before experiencing a retracement. On March 2, SHIB reached a 22-month peak of $0.00002390, but then experienced a retracement. Shiba inu is still among the top 5 gainers for this week despite a retracement. The Shiba price has risen 125% to $0.00002176.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: crypto.news
