Dogecoin Outperforms Bitcoin, Ethereum While Crypto Majors See Bearish Retail Sentiment

Dogecoin posted the strongest gains among the top 10 cryptocurrencies by market capitalization in the last 24 hours.

• Dogecoin’s price rose 2.3% in the last 24 hours, while Bitcoin gained 1.5% and Ethereum edged 0.4% higher.
• The momentum follows 21Shares' completion on Monday of regulatory steps toward launching a U.S. spot Dogecoin ETF.
• Retail sentiment on Stocktwits around the crypto majors trended in bearish territory over the past day.

Meme token Dogecoin (DOGE) outperformed crypto majors on Tuesday morning as Bitcoin (BTC) staged a slight recovery after Monday’s slump.

Bitcoin’s price rose 1.5% in the last 24 hours to just under $92,000. On Stocktwits, retail sentiment faded to ‘bearish’ from ‘neutral’ over the past day. The recovery came after spot Bitcoin ETFs in the U.S. broke their four-day outflow streak, recording $116 million in inflows on Monday. Most of the new capital, over $111 million, went to Fedelity’s Wise Origin Bitcoin Fund (FBTC).

The overall cryptocurrency market rose 1.2% in the last 24 hours, crossing back over the $3.2 trillion marker, where it’s been trending range-bound so far this year. CoinGlass data showed just $184 billion in liquidations, most of them stemming from long bets.

Dogecoin Leads Crypto Majors

Dogecoin’s price rose 2.3% in the last 24 hours to $0.1393, leading gains among the top 10 cryptocurrencies by market capitalization. Despite the uptick, retail sentiment around the meme token on Stocktwits remained in ‘bearish’ territory over the past day, and chatter was also subdued at ‘low’ levels.

The momentum comes after 21Shares completed regulatory steps on Monday to launch a U.S. spot Dogecoin exchange-traded fund. It filed an amended prospectus with the Securities and Exchange Commission (SEC), positioning the product to trade under the ‘TDOG’ ticker once listed. 

Altcoins Gain, But Retail Sentiment Doesn’t Keep Up

Cardano (ADA) and Solana (SOL) both rose around 1.7% each in the last 24 hours. However, the gains did not lift retail sentiment. Cardano’s price was trading at around $0.3927, with retail sentiment dipping to ‘neutral’ from ‘bullish’ territory over the past day. Meanwhile, Solana’s price traded just under $142, with retail sentiment falling to ‘extremely bearish’ from ‘bearish’ territory. 

Binance Coin (BNB), Ripple’s XRP (XRP), and Ethereum (ETH) underperformed Bitcoin, each rising less than 1% in the last 24 hours. Ethereum’s price remained above $3,100, but retail sentiment fell to ‘extremely bearish’ from ‘bearish’ territory over the past day.

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