Dogecoin Slips Another 2% After Nascar Appearance As Bitcoin, Ethereum Hold Together

Dogecoin DOGE/USD slipped over 2% at press time on Sunday night after a weekend that saw a car bearing the Shiba Inu mascot crash into a wall at NASCAR. 

What Happened: DOGE traded 2.1% lower at $0.28 at press time over a 24-hour period. The meme cryptocurrency has tanked 14.72% over a seven-day basis.

See Also: How To Buy Dogecoin (DOGE)

Against Bitcoin BTC/USD and Ethereum ETH/USD, DOGE fell 2.05% and 4.65%, respectively. 

BTC traded 0.5% higher at $35,590.95 over 24-hours, while ETH traded 3.09% higher at $2,237.87 in a similar period.

Among the top gainers on Sunday evening, THORChain RUNE/USD topped the charts over 24 hours, as per CoinMarketCap data.

THOR traded 14.1% higher at $8.33 over 24-hours. Other gainers in the same period included SushiSwap SUSHI/USD up 12.79% at $8.31, Waves WAVES/USD, which traded 10.86% higher at $17.48, and The Graph GRT/USD which spiked 7.75% to $0.63.

Why It Matters: The Dogecoin car, with Stefan Parsons on the wheel, made contact with an exterior wall at the NASCAR Xfinity Series race on Saturday in Stage 2 of the Tennessee Lottery 250.

The wreck occurred just before the finish line causing Parsons to finish last at the 36th spot in the race.

See Also: In A First, NASCAR Driver To Be Paid Entirely In Cryptocurrency, Including Bitcoin, Litecoin

Meanwhile, post the Federal Reserve’s revised projection for hikes in interest rates by the end of 2023, the number of BTC held by U.S. and Canadian closed-ended funds and European and Canadian exchange-traded funds declined to 782,558 BTC on Friday, which is the lowest level since Feb. 25, as per ByteTree Asset Management data, first seen on CoinDesk.

“BTC held by ETFs and funds are a significant and measurable sample of network demand,” said ByteTree Chief Information Officer Charlie Morris, as per CoinDesk.

Read Next: EXCLUSIVE: Building On Top Of Bitcoin May Not Be As Popular As Ethereum, Other Blockchains, But We're 'Close To Seeing Some Runaway Success,' Says Stacks

Posted In: BitcoindogecoinEthereumSushiSwapThe GraphTHORChainwavesCryptocurrencyNewsMarkets

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