The cryptocurrency market is currently in limbo Following Bitcoin’s failure to gain a foothold above the $38,000 level, Solana (SOL) and Dogecoin (DOGE) are showing signs of resilience.
SOL saw its price increase by 1.2%. Dogecoin, the meme-inspired cryptocurrency, also saw a modest rise of 0.3%.
These gains come against a backdrop where other major cryptocurrencies are in the red, with Cardano (ADA) and Polkadot (DOT) being the main laggards.
Solana’s dominance in the NFT sector
Solana’s rise can be attributed to the success of the MadLads NFT collection, which once again topped the charts in terms of 24-hour NFT sales volume.
This achievement shows Solana’s growing dominance in the NFT space, which was once dominated by Ethereum. As note According to Solana founder Anatoly Yakovenko, there is now only one Ethereum project in the top five.
Dogecoin’s lunar mission
On the Dogecoin front, the DOGE-1 mission to the Moon received approval from the National Telecommunications and Information Administration (NTIA).
This approval is not only symbolic for Dogecoin enthusiasts, but also marks an important step towards final licensing from the Federal Communications Commission (FCC).
The leading meme coin, which rose 7.5% in the last 24 hours, is now stealing the spotlight with growing buzz on social media.