Share this article
Dogecoin Climbs 5.4%, Tops CoinDesk 20 This Week: CoinDesk Indices Market Update
Bitcoin and ether are also among this week's leaders, while Uniswap lags.
Updated Apr 12, 2024, 6:07 p.m. Published Apr 12, 2024, 6:05 p.m.
Make us preferred on Google
CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).
Dogecoin led the CoinDesk 20 this week, climbing 5.4% and topping $0.20 at one point before pulling back. This is still far below the meme coin’s all-time high of $0.58 in May of 2021.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Only five assets in the index closed yesterday above their levels of one week ago. Despite sizable losses on Friday, bitcoin and ether {{ETH}} were among them.
Uniswap {{UNI}} noticeably lagged this week, falling 19% as the DeFi exchange received an enforcement notice from the SEC. Layer 1s Aptos and Internet Computer {{ICP}} were among the worst performers as well.
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization.
More For You
More For You
Mike McGlone softens bitcoin downside target to $28,000 after backlash over $10,000 call
Market analysts said the extreme downside scenario risked influencing real capital flows, prompting a heated public debate over bitcoin’s macro outlook.
What to know:
- Bloomberg Intelligence analyst Mike McGlone has shifted his bitcoin downside target from $10,000 to about $28,000 after criticism that his earlier call was alarmist and risky for investors.
- McGlone now argues that $28,000 is a more probable level based on historical price distribution and maintains that his analysis shows why investors should avoid bitcoin and other risk assets.
- Critics including Jason Fernandes and Mati Greenspan say the revised $28,000 target is still unlikely or overly deterministic, warning that such stark forecasts can distort positioning and put real capital at risk in reflexive crypto markets.
Top Stories
