Dogecoin Trounced: Chainlink’s 34% Jump Kicks DOGE Out Of Top 10 List

Name	Symbol	Market	Market Cap ($)	Algorithm
ChainLink Token	LINKUSD	Crypto	8,231,141,598	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

ChainLink Token

LINKUSD

Crypto

8,231,141,598

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.440	-3.04%	14.04	14.03	14.03

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.440

-3.04%

14.04

14.03

High Price	Low Price	Open Price	Prev. Close	52 Week Range
14.52	13.89	14.50	14.48	4.74 - 22.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

14.52

13.89

14.50

14.48

4.74 - 22.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:54:29	0.780000	14.03	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:54:29

0.780000

14.03

USD

Price x Volume	Volume	Base Symbol	Related Pairs
7,163,649.51	507,081.60	LINK	LINKEUR	LINKGBP	LINKBTC

Price x Volume

Volume

Base Symbol

Related Pairs

7,163,649.51

507,081.60

Dogecoin Trounced: Chainlink’s 34% Jump Kicks DOGE Out Of Top 10 List

06/02/2024 12:00am

NEWSBTC

After Chainlink’s impressive run of more than 34% over the past week, LINK has dethroned Dogecoin (DOGE) from the top 10 crypto by market cap list. Chainlink Has Pulled Away From The Crowd With A Sharp Surge Recently While most cryptocurrency sectors have observed minimal movement recently, Chainlink has emerged as an outlier, enjoying a surge of over 34% in the last week. Related Reading: Bitcoin CDD Shows Bullish Breakout, Rally Returning In Full Flow? The below chart shows how LINK has performed over the past month. The price of the coin seems to have observed a sharp increase in recent days | Source: LINKUSD on TradingView LINK had achieved a major milestone, breaking above the $18 level earlier during this latest rally, but with a sharp 8% continuation of the run, the coin has now surged beyond the $19.5 mark for the first time since early 2022. Should Chainlink’s surge continue, the cryptocurrency would be retesting the $20 level, which could prove to be a source of major resistance, according to on-chain data. LINK has surged more than 38% over the past thirty days, which means it has significantly outperformed the wider sector. Bitcoin, for instance, hasn’t even been able to put together positive returns in this period, as the original cryptocurrency’s price has declined by almost 2%. Thanks to this strong rally, Chainlink has changed its standing among the wider sector. Specifically, the token has shaken things up in the market cap list. Dogecoin Has Lost Its Position In The Top 10 List To LINK Following the rally, LINK has improved its market cap rank and is now the 10th largest cryptocurrency in the sector based on this metric. Dogecoin, holding this spot earlier, has now fallen to 11th. The table below shows how the two assets fit in the broader sector. The current data of the coins placed 9th to 12th on the market cap list | Source: CoinMarketCap Although Chainlink has now surpassed Dogecoin in this metric, the gap between the two assets is still not much. This means the two coins may continue to flip each other in the coming days unless one shows diverging performance. As LINK has arrived at this spot with a sharp surge, things may be looking favorably for the asset, especially considering that DOGE has rather put up negative returns in the past week. Related Reading: These Are The Four Key Bitcoin Price Levels To Watch, Reveals Analyst The overall picture has also been a bit dire for the memecoin recently, as the chart below displays that its price has followed a sideways trajectory during the past month. Looks like the memecoin has observed stale price action for most of this period | Source: DOGEUSD on TradingView Unless things change fast for Dogecoin, its exit from the top 10 list may be here to stay. Of course, this only assumes that Chainlink itself doesn’t fall off shortly. Featured image from Shutterstock.com, charts from TradingView.com

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LINKUSD ChainLink Token