Cryptocurrencies have suffered a historic drop recently and assets like Bitcoin have lost about 10% of their value in a few hours, but not everyone has been affected. The Dogecoin coin, which was created as a joke, grew during the pandemonium.
The assets that suffered the most from the generalized decline were consolidated currencies. In one of its biggest falls, Bitcoin lost about 10% of its value during the early hours of today (19), dropping from $ 60,000 to values in the $ 51,000 range.
Bitcoin SV fell even further and lost about 30% of its value in a few hours. Ethereum, one of the most popular crypto today, saw its $ 2,560 price drop to $ 2,000.
The reason for the widespread decline was the shutdown of mining companies in China, which impacted Bitcoin and other cryptocurrency transactions. In addition, speculation about new regulation of digital assets in the United States has also contributed to the climate of instability.
After falls, Dogecoin values
Who won in this pile of falls was Dogecoin, the darling of Elon Musk. The coin created as a meme had an increase of approximately 17% in value during the collective collapse of the cryptocurrency market.
The high comes after Dogecoin suffered drops of up to 40% over the weekend. While the currency traded for $ 0.23 during Saturday, the asset opened the market today worth about $ 0.30.
Despite being just a meme, Dogecoin’s rise may be an indication that the market is still confident with cryptocurrencies. As of Monday morning, including, Bitcoin was already trading for $ 57,065, a considerable recovery after the fall of dawn.