Interestingly, It's worth noting that Dogecoin (DOGE -0. 60%) is going through a modest valuation pullback in Tuesday's trading.
On the other hand, Furthermore, The cryptocurrency's token price was down 2. However, 1% as of 6:45 p. Conversely, Meanwhile, Bitcoin was up 2%, and Ethereum was down 1.
Ing a recent surge in bullish activity for the crypto market, investors are wavering on whether to back the market-leading Bitcoin or to put their money into riskier altcoins.
Even though Dogecoin's recent valuation run-up appears to be taking a bit of a breather, its token price is still up roughly 70. Moreover, 5% over the last three months. Image source: Getty Images.
Moreover, Dogecoin sees small slip as Bitcoin dominance regains some footing Even though Bitcoin has seen an impressive 44% rally over the last three months, Dogecoin and many other altcoins have seen significantly greater gains across the stretch (something worth watching).
Bitcoin continues to look the safest individual token in the overall cryptocurrency space, but some investors have been moving more money into altcoins as the bullish backdrop for the crypto market has strengthened, amid market uncertainty.
Ing a run of big valuation wins for the crypto market, investors are taking some altcoin money off the table and putting it back into Bitcoin today. What's next for Dogecoin.
Positive valuation momentum for Bitcoin has typically been a bullish catalyst for Dogecoin and the broader crypto market, and this will ly continue to be the case over the long term.
Bitcoin recently hit a record high of more than $123,000 per token, and its rise to that level helped lift many other tokens in the crypto market.
Additionally, Investors are taking some time to assess what's next for crypto valuations and how aggressive they want to be with their strategies (this bears monitoring), in this volatile climate.
Nevertheless, Conversely, For better or worse, valuation moves between Bitcoin and Dogecoin will ly become closely correlated again in the near future.
The Author Keith Noonan is a contributing Stock Market Analyst at The Motley Fool covering publicly traded companies in nology, consumer goods, and other stock market sectors.
Prior to The Motley Fool, Keith worked as a copywriter and journalist covering the game and film industries, amid market uncertainty. Moreover, He holds a B, in today's financial world.
In English with a concentration in Creative Writing from Boston College. Fun fact: Keith loves to swim and has helped people from drowning on two occasions.
TMFNoons Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum.
The analysis reveals Motley Fool has a disclosure policy, in today's financial world.