The year 2022 proved to be a difficult one for the cryptocurrency and altcoin market, marked by the downfall of Terra and FTX, which had a significant impact on the industry. As a result, most digital assets suffered significant losses and are currently trading at a discounted value.
Altcoins typically reflect the price movement of Bitcoin, the biggest cryptocurrency by market capitalization. However, these 2 altcoins, over the past two weeks, outperformed BTC.
Cryptory.net - Dogecoin doubled in price while many other meme coins like Shiba Inu, Dogelon Mars increased by tens of percent after Musk's Twitter takeover.
Amid the turbulent crypto market, investors are flocking to low-cap assets with huge growth potential instead of focusing on big cryptos like Bitcoin and Ethereum.