DOGEE fiasco: Chainlink's 34% gain kicked DOGEE out of the top 10 list
After Chainlink's impressive gain of over 34% over the past week, LINK has knocked DOGEC (DOGEE) off the top 10 Crypto Assets charts by Market Cap.
LINK achieved a significant milestone, breaking above the $18 level earlier in the recent rebound, but as it continued to rise sharply by 8%, the token soared to the $19.5 mark for the first time since early 2022. According to on-chain data, if Chainlink continues to soar, the Crypto Assets will retest the $20 level, which could be a major source of resistance.
LINK has surged more than 38% in the last 30 days, meaning it has significantly outperformed the broader sector. In the case of Bitcoin, it was not even possible to get a positive return during this period because the price of the original Crypto Assets fell by almost 2%. As a result of this strong rebound, Chainlink has changed its position in the broader industry. Specifically, the Token has shaken up the Market Cap list.
After the rally, LINK has improved its Market Cap ranking, and according to this indicator, it is now the 10th largest Crypto Assets in the sector. DOGE OCCUPIED THIS POSITION EARLIER AND HAS NOW FALLEN TO 11TH PLACE.
Although Chainlink has now outperformed DOGE on this metric, the gap between the two assets is still not large. This means that the two currencies are likely to continue to flip against each other in the coming days, unless one of them behaves differently.
SINCE LINK HAS SURGED SIGNIFICANTLY TO THIS LEVEL, THE ASSET'S SITUATION COULD BE FAVORABLE, ESPECIALLY GIVEN THAT DOGE HAS RETURNED QUITE WELL OVER THE PAST WEEK.
Recently, the overall situation of the meme coin has also been a bit bad, and its price has been moving sideways for the past month. UNLESS THINGS CHANGE RAPIDLY FOR DOGE, IT MAY CONTINUE TO DROP OUT OF THE TOP 10 LIST. Of course, this is just assuming that Chainlink itself won't fall off anytime soon.
(Source: Keshav Verma)
