Crypto Price Today: Bitcoin hovers near $28,000; Dogecoin spikes 25% after Twitter loge change

Bitcoin spiked during the early trading hours on Tuesday but the Dogecoin was soaring sharply higher. Crypto market is having a rough ride after the banking meltdown that engulfed two crypto-friendly banks. Crypto markets were mulling an unverified rumor that an Interpol Red Notice had been issued for Binance's founder and CEO, Changpeng Zhao. Bitcoin was back in the green and rose about a per cent and briefly topped $28,000-mark. Its largest peer, Ethereum advanced almost 2 per cent to regain the $1,800-levels. However, among the altcoins, Dogecoin was the standout performer after Elon Musk changed Twitter's logo to Doge. Bitcoin and Ethereum remained flat with a marginal rise in their price but newsmaker of the day is DOGE, which surged by 25 per cent in just 24 hours after Twitter changed its logo to the Doge icon, said Shivam Thakral, CEO of BuyUcoin. "Elon Musk has been a staunch supporter of the meme coin and talks about DOGE finding a mass use case on the Twitter platform have been doing rounds since then," he said. Barring the US dollar pegged stablecoins and XRP, which shed about 3 per cent, all other top crypto tokens were trading higher on Tuesday. Dogecoin spiked more than 25 per cent. Elon Musk changed Twitter's logo to Dogecoin. Shiba Inu spiked about 6 per cent, while Polkadot rallied 4 per cent. The global cryptocurrency market cap was trading significantly higher at $1.16 trillion, rising more than a per cent in the last 24 hours. However, the total trading volumes jumped more than 44 per cent to $48.24 billion.  

Tech View By WazirX Trade Desk Cardano(ADA) is a secure and scalable decentralized platform that is designed to facilitate intricate programmable transfers of value. The open-source initiative seeks to shift power from opaque institutions to individuals on the fringes, with the ultimate goal of fostering a more equitable, transparent, and secure society.  

ADA has been on a downtrend since September of 2021. However the trend has seen a promising momentum since the start of this year. On the weekly timeframe, Cardano has broken out of the descending trendline and is currently consolidating around the $0.35 level. An immediate resistance is expected at $0.42 level and a conservative support is expected at $0.27 levels.(Views and recommendations given in this section are the analysts' own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)

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