Dogecoin Rising as Bitcoin Nears $100K—But XRP and Other Alts Are Hotter

Bitcoin may still be trying to break the long-anticipated $100,000 per coin mark after a few close calls over the last day, but various altcoins are on the rise—including Dogecoin.

One of them is Dogecoin, the seventh biggest coin by market cap. It hit $0.4126 early Friday afternoon, the highest mark seen in over a week, with its daily gain at nearly 7% at the current price of $0.4114. DOGE is now up almost 15% on the week.

The original meme coin had slowed down its run in recent days after skyrocketing in price both before and after Election Day, but DOGE is picking up again. Dogecoin hit a three-year high price of about $0.43 early last week.

Other altcoins are doing better, though. At the top of the pack is XRP—its price has soared since news dropped that Securities and Exchange Commission Chair Gary Gensler was stepping down from his role as Wall Street’s biggest regulator in January.

The boss of the financial watchdog had waged war against the XRP project and its founders, who formed Ripple Labs, but now the asset is touching a three-year high.

Now, the price of the asset sits at $1.47, after surging by 31% in the past day. It is the best-performing asset in the top 100 cryptocurrencies (ranked by market cap) over the past day.

Elsewhere, Stellar (XLM) is also experiencing a surge. The coin’s price is currently up 28% in the past 24 hours and is priced above $0.30.

And Cardano (ADA) has shot up in price, too: it is now trading for over $0.97 after a 22% jump in price today. The coin, the ninth-biggest digital asset by market cap, was also in the SEC’s crosshairs during Gensler’s tenure.

Other assets experiencing a price surge include Algorand and Avalanche. They have both made gains in the double digits, with ALGO’s price rising 18% to top $0.24, and Avalanche—or AVAX—bumping up 11% in a day to top $39.

It’s worth nothing that all these alts are still significantly below their previous all-time highs—some by as much as 90%.

Edited by Andrew Hayward