Altcoin Update: Doge At A Key Turning Point As Monero Gains On Bitcoin's Recovery

The altcoin space displayed notable recoveries today as Bitcoin soared past $95K, currently trading at $95,399.

While most tokens printed significant movements, Dogecoin and Monero grabbed investor attention with their current performances.

Let’s find out more.

Bitcoin has regained $95K after plunging beneath $90K on Monday.

Its recent drop catalyzed over $730 million in crypto liquidations.

The bellwether crypto exhibits massive volatility, with fading institutional demand suggesting more weakness.

Coinglass data shows BTC spot ETFs recorded over $284M in outflows on Monday, extending the trend since 8 January.

Continued outflows might plunge Bitcoin further.

Analyst Michael va de Poppe expects BTC to reclaim the $100K psychological mark since the latest dip grabbed liquidity around the $91.5K mark.

However, enthusiasts should watch this week’s inflation data and Donald Trump’s 20 January inauguration.

The largest meme token by market cap traded at $0.3445 after gaining 6% in the past 24 hours.

(Click on image to enlarge)

Chart by Coinmarkectap

The current price places DOGE above a vital support zone of $0.30.

DOGE gained more than 25% to $0.40 the last time it topped this mark.

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