Dogecoin Falls 7.5% While Solana and HYPE Token Surge
On Wednesday, crypto markets showed mixed performance with notable movements:
- Dogecoin (DOGE) fell 7.5% to 36 cents after a brief surge from 34 to 38 cents on Tuesday.
- Solana’s SOL increased by 8%, driving market recovery.
- Bitcoin (BTC), Ether (ETH), and BNB gained under 1%.
- XRP also surged up to 7%.
- Hyperliquid’s HYPE token rose 13%, leading among large-cap tokens over $5 billion capitalization.
Market sentiment reflects profit-taking behavior amid uncertainty regarding potential tariffs affecting stock markets. Traders are looking for signals from upcoming executive orders and tariff decisions by Donald Trump, which may influence crypto policies.
Optimism remains high following the appointment of pro-crypto CFTC Commissioner Caroline Pham, as noted by industry figures.
Bitcoin is trading near $105K, with fluctuations between $101K and $107K indicating ongoing interest in risk assets.