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Dogecoin: price of DOGE rises, +220% in one day
Dogecoin: price of DOGE rises, +220% in one day
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Dogecoin: price of DOGE rises, +220% in one day

By Federico Izzi - 16 Apr 2021

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The day sees the price of Dogecoin (DOGE) flying like a rocket, with a daily rise of 220% and a price that for the first time in history rises to 45 cents on the dollar. 

DOGE 20210416

A week of historical records is coming to an end. Bitcoin has been close to the $65,000 mark for the first time in recent days, while Ethereum has risen above $2,540 for the first time in history.

The week is set to end positively for the third time in a row, which has not happened since last February.

Dogecoin, price rises and volumes explode

Volumes continue to climb and in the last 24 hours have reached nearly $1 trillion on the major exchanges. Dogecoin volumes are also exploding, exceeding $30 billion in the last 24 hours, tripling bitcoin’s daily trades, five times higher than Ethereum’s volumes on major exchanges. 

To compare with bitcoin’s highest records traded within 24 hours, on only two occasions, in January and February this year, BTC traded $27 billion for the first time. 

This is due to Elon Musk’s tweets returning to support DOGE’s bullish momentum. 

This brings DOGE to climb to the 5th position for the first time in terms of capitalization, the highest ever in the cryptocurrency’s history. 

In contrast to the past few days, Ripple (XRP) has seen one of its worst declines to date, falling about 14% and failing to break through the $2 mark, a level it had touched during the week. 

DeFiPulse 20210416

DeFi has been close to $60 billion worth of collateral in recent hours. 

The new records are due to the appreciation of the value of Ethereum, which has fallen from its historical highs reached at the beginning of April. Meanwhile, the slow rise of tokenized bitcoin continues, rising above 147,800 BTC for the first time since the beginning of February.

At this time, the total value of tokenized bitcoin on decentralized finance projects reached a new all-time high with more than 12.3 billion in dollar value. 

BTC 20210416
Bitcoin chart by Tradingview

Bitcoin (BTC)

The week of glory for bitcoin is set to end with prices above $61,000. If this level is confirmed by Sunday evening’s close, the bullish movement that began at the end of January will be consolidated. Next week it will be important for the price of bitcoin not to fall below $58,000, a level that coincides with the bullish dynamic support. 

ETH 20210416
Ethereum chart by Tradingview

Ethereum (ETH)

Ethereum in recent hours recorded new historical records, pushing above $2,500 for the first time, only to retrace in recent hours by more than $200. It is a movement that is not worrying, as it is due to profit-taking. For Ethereum, danger levels will only arise with a return below 1,900 dollars. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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