Dogecoin Plummets After Brief Surge; Solana and HYPE Rebound
Crypto/Market News

Dogecoin Plummets After Brief Surge; Solana and HYPE Rebound

Major cryptocurrencies demonstrate varied performances, with Dogecoin declining while Solana and HYPE tokens surged sharply.

Dogecoin Plummets After Brief Surge; Solana and HYPE Rebound

Major cryptocurrencies demonstrate varied performances, with Dogecoin declining while Solana and HYPE tokens surged sharply.

What to know:

  • Dogecoin retraced Tuesday’s gains while Solana’s SOL jumped 8% higher as crypto markets rebounded Wednesday.
  • Crypto majors showed mixed movement as Bitcoin (BTC), Ether (ETH), and BNB gained under 1% in the past 24 hours.
  • Traders look to Donald Trump’s executive orders and tariff decisions for cues on market positioning.

Dogecoin (DOGE) dropped 7.5% as profit-taking ensued, trading at 36 cents after a brief increase earlier in the week. This followed its logo display on a website managed by an organization led by Elon Musk.

Meanwhile, Solana’s SOL witnessed a significant rise of 8% and other cryptocurrencies followed suit. The broad-based CoinDesk 20 index increased by approximately 2.57%.

Jeff Mei, COO at BTSE, noted via Telegram, “Crypto markets have dipped as traders take profit and wait to see the potential impact of tariffs on Mexico and Canada, which could impact stock markets when the US stock market opens tomorrow.”

Looking ahead, optimism persists, especially following the appointment of pro-crypto Caroline Pham at the CFTC.

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