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As the broader cryptocurrency market sees an altcoin rally, Dogecoin (DOGE) has taken a stunning lead. The meme coin has outperformed other notable assets like XRP, Solana (SOL), and Cardano (ADA), all of which have seen impressive price gains over the past 24 hours.
Dogecoin leads the altcoin pack
At the time of writing, the DOGE price was change hands at $0.3494, representing an increase of 10.04%. Investor interest continued to grow, as shown by trading volume, which soared 45% to $3.68 billion. DOGE rose from a low of $0.3114 to show its current price performance amid a market rally.
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Traders on Binance could have triggered the current price increase as they are betting long on DOGE, as previously reported by U.Today. More than 81% of stock traders were optimistic about a price rise, and it is playing out now.
XRP also saw gains, but they were slightly lower than DOGE. XRP price increased by 8.15% to $2.56. XRP trading volume increased 12% to $8.78 billion. This marks a break from the price fluctuation that XRP has seen over the past 30 days, where it struggled to break above the $2.40 level.
Investors are hoping that XRP, supported by the expansion and performance of stablecoin RLUSD, could help it retest higher levels. Already, key XRP Metrics hints at the token’s rally up to the $3 level as long as the bullish sentiment persists.
Markers of this upward trajectory include a growing number of new accounts and an increase in transactions.
Cardano hits psychological milestone
Solana price in the last 24 hours increased by 6.90% to $187.91. SOL’s market volume also increased to $4.16 billion, an increase of 20.5%. This price performance remains significant, considering Whale Alert spotted 149,999 SOL was recently transferred from an unknown wallet to Binance.
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At the time, the transaction triggered selling pressure on a segment of market participants. However, this did not impact SOL enough to prevent an upward rally, as is visible now.
Cardano also pushed towards its psychological level of $1, with the price increasing by 7.49% to $0.9711. It also recorded a trading volume of $1.29 billion, up 15.53%.