Dogecoin and other dog-themed memecoins rally while crypto market cools off

Dogecoin is up more than 10% today, while the broader crypto market shows signs of slowing down after a rally last week.  

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At the time of writing, dogecoin was trading at $0.085, up more than 21% over the past seven days, according to CoinGecko. Tuesday’s price move comes as dog-themed memecoins have rallied over the past week, with some jumping more than 28%.

Shiba inu is up 29.66% over the past week, trading hands for $0.0000157 at the time of writing. Elsewhere baby doge coin is up 19.1% in the same period, while dogelon mars rose a modest 7.9%.

Conversely, the leading cryptocurrencies by market cap, bitcoin and ether, are both down over the past day, -1.1% and –1.7% respectively. Ether had been leading the charge in crypto markets over the past few weeks, gaining over 15% between August 7 and August 14, as traders bidded on the upcoming merge. But that rally appears to have cooled off for now.

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© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Adam Morgan is The Block’s markets reporter. He has been based in London for the past year, initially freelancing and working for a start-up there before beginning a fellowship at Business Insider. He Tweets @ AdamMcMarkets

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