Dogecoin Trounced: Chainlink’s 34% Jump Kicks DOGE Out Of Top 10 List

Chainlink’s recent surge of over 34% has allowed it to surpass Dogecoin and secure a spot in the top 10 cryptocurrencies by market cap. While most cryptocurrencies have experienced minimal movement, Chainlink has stood out with its impressive gains. The price of Chainlink has seen a sharp increase in recent days, breaking above the $18 level and surpassing the $19.5 mark for the first time since early 2022. With its continued surge, the cryptocurrency could potentially retest the $20 level, which may pose a significant resistance. In the past 30 days, Chainlink has outperformed the wider sector, with a surge of over 38%. In contrast, Bitcoin has seen a decline of almost 2%. As a result of Chainlink’s rally, it has surpassed Dogecoin in market cap rank, now holding the 10th position while Dogecoin has fallen to 11th. Although the gap between the two assets is currently small, they may continue to flip each other in the future unless one shows diverging performance. Dogecoin has experienced a stagnant price action in the past month, and unless there is a significant change, its exit from the top 10 list may be permanent. However, this assumes that Chainlink itself does not experience a decline in the near future.