Cardano (ADA) and Dogecoin (DOGE) hit record highs as the cryptocurrency market soars

With the surge in the cryptocurrency market, Cardano (ADA) and Dogecoin (DOGE) rose rapidly. The past 24 hours are still an interesting moment for the cryptocurrency market, as prices have soared across the board after the bullish rise. So far, the prices of top tokens such as Bitcoin and Ethereum have risen sharply. In just 24 hours, the entire cryptocurrency market value has increased by more than $1 billion.

As the rise continues, altcoins such as ADA and DOGE continue to show huge market volatility. As investors returned to the market, the prices of both digital currencies rose by more than 10% and continued to rise. With record losses from short positions increasing, bull market traders have now taken over the market.

Related Reading | Cardano aims to provide convenience to users through smart contracts

The short liquidation volume of the entire market has exceeded 1 billion U.S. dollars, and the liquidation volume of Dogecoin ranks fourth in the market. Altcoins continue to see a recovery trend, as most of the market turned green during this surprising turn of events this week.

Dogecoin, Cardano continues its upward trend

So far, Dogecoin continues to lead with a 13% price increase in the past 24 hours. DOGE continues to see a downward trend because of the coin “Dogefather” Elon Musk has now gotten rid of the predicament it seemed to be stuck in for most of last week.

The price of DOGE rose from US$0.195 to a breakthrough of US$0.20 and is currently located at the current trading price of US$0.2244.

Crypto market gains over $1 trillion in 24 hours | Source: Crypto Total Market Cap on TradingView.com

Cardano (ADA) continues to gain more than 11% in this way because the current gains continue. The digital asset with a transaction price of $1.20 rose sharply, and the price reached $1.32 within a few hours.

Both digital currencies continue to show double-digit price increases in the market. The market value of Dogecoin is now $29 billion, as Cardano’s market value has grown to $43 billion.

Bullish news boosts cryptocurrency market value

In the past week, Bitcoin and other cryptocurrencies have gained more support.News like billionaire Elon Musk Confirm that Tesla and SpaceX hold Bitcoin Facts have proved that its balance sheet is very bullish. As the price of Bitcoin rose after the announcement, the market showed positive sentiment. Break through the 32,000 USD and maintain the momentum, bringing the price to over 34,000 USD.

Related Reading | SpaceX has Bitcoin on its balance sheet, Elon Musk

In the same meeting, Musk comfirmed He personally holds Bitcoin, Ethereum and Dogecoin.Prove that this billionaire has never sold his assets in a meme coinMusk also confirmed that although he may draw coins, he has never tossed a coin.

News came immediately after Amazon Efforts are being made to integrate Bitcoin into its platform. As cryptocurrency is speculated as a payment method for e-commerce giants, people are more and more in favor of the cryptocurrency market. Therefore, investors seem to return to the cryptocurrency field with new vitality.

Related Reading | Cardano (ADA) collaborates with Rwandan NGOs to launch an encrypted charity platform

On Sunday, there were rumors that insiders of the e-commerce giant confirmed the integration of cryptocurrencies, and as the weekend ended, prices soared.

So far, as the cryptocurrency continues to maintain its acquired value, the crypto market has received continued support, and the chart of the entire market has remained green. Dogecoin and Cardano continue to top the list of winners in the market.

Featured image from Nairametrics, chart from TradingView.com

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