Crypto Market Update: Solana and Dogecoin Soar, Bitcoin Holds Strong

The global cryptocurrency market rode a bullish wave in the past 24 hours, lifting its market cap by 0.44% to $2.45 trillion. Solana (SOL), Dogecoin (DOGE), and Ordinals (ORDI) led the charge with impressive gains.

Amid this market upswing, the fear and greed index indicates a strong sense of greed, with trading volumes soaring by 43.63% to reach $71.28 billion. This spike highlights a notable rise in trading activity and strengthened investor confidence.

Meanwhile, Bitcoin has held steady above the $67.5K mark, even after peaking at $68.4K earlier today, setting the stage for continued momentum in the crypto landscape.

SOL Maintains Momentum Above $180 Mark

Following a breakthrough past the $171 resistance on Saturday, SOL has shown solid bullish momentum, intending to surpass the $185 peak last seen on March 21. Despite a minor dip, the token has stabilized above the $180 level.

Source: CoinMarketCap

As of press time, SOL exchanged hands at $180.68, reflecting a 4% rise in the last 24 hours and an impressive 18% increase over the past week. This bullish trend has boosted its intraday market cap to $83,904,252,061, securing its position as the 5th largest cryptocurrency.

Additionally, SOL’s 24-hour trading volume surged by 74.96%, reaching $3,258,652,457. This spike underscores growing investor interest and heightened trading activity for the asset.

DOGE Rises 7.37%, Joins Top Gainers

Like SOL, DOGE has been on a notable uptrend, experiencing a 7.37% increase in the past 24 hours and emerging as one of today’s top performers. At the time of writing, DOGE traded at $0.1409. With a circulating supply of 145,216,196,384 DOGE, its market cap has surged to $20,456,147,203, securing its spot as the 8th largest cryptocurrency.

Source: CoinMarketCap

The trading volume for DOGE also saw a significant increase, reaching $1,342,459,347 in the last 24 hours, indicating growing interest and activity in the token. This bullish sentiment is further supported by technical indicators, which suggest it might last in the short term.

For instance, the RSI index on the daily chart is at 63.16, indicating that there is still room for growth before the token reaches overbought territory. If this trend continues, analysts predict DOGE could surpass the $0.151 mark, further exciting investors.

ORDI Price Slips, But Recovery Looks Promising

Despite the prevailing bullish sentiment across the crypto market, the ORDI token is charting its course, showing a surprising bearish trend. After reaching an intraday high of $43.17, the token’s price quickly tumbled to $40 within hours, marking a 0.33% decline in the past 24 hours.

Source: CoinMarketCap

This downturn, however, might be short-lived. ORDI has a history of rapid recoveries following similar dips. Supporting this optimistic outlook, the token’s RSI is climbing, currently at 55.91, signaling that bullish momentum is still in play.

Additionally, the 20-day SMA is positioned below the current ORDI price, providing a robust support level that could stabilize the token potentially facilitate a swift rebound.