Bitcoin Cash no longer a top-10 cryptocurrency after being hounded out by Dogecoin

Trapped Bitcoin (BTC) fortunes separated from Bitcoin (BCH) took a turn for the worse on February 8 as they were knocked out of the top ten cryptocurrencies – by Dogecoin (DOGE).

Data from Cointelegraph Markets and CoinMarketCap showed that the Biosafety Clearing-House now ranks 12th after being passed by both DOGE and Stellar (XLM).

BCH was kicked out of the top ten

The latest embarrassment for altcoins, which lost a foothold last week to Binance Coin (BNB) and in January was replaced by Chainlink (LINK), thus pushing it away from the top ten cryptocurrencies by market cap.

At the time of writing, BCH had a market cap of $ 8.48 billion, behind Stellar’s $ 8.63 billion and DOGE at $ 9.59 billion, the latter having risen 25% in the past 24 hours.

While Bitcoin itself has gone from strength to strength, BCH has yet to see any real benefits beyond commitment to the occasion from figures like Kim Dotcom. Supporters of altcoin describe it as an excellent alternative to Bitcoin thanks to its faster and cheaper transactions.

“I joined the BCH team in early January. This is just the beginning,” Dotcom promise In a recent tweet.

1-week BCH / USD candle chart (Coinbase). Source: TradingView

DOGE sees rebound criticism

DOGE saw a boost on Monday thanks to fresh endorsement from rappers Snoop Dogg and Elon Musk, who spotted another cheeky tweet about his alleged fondness for the coin. In an interview last week, Musk had already confirmed that he was a “supporter” of Bitcoin.

“Doge appears to be inflationary, but has no meaning (constant # of currencies per unit time), whereas BTC can be said to be deflationary due to an error,” Wrote.

“The transaction speed in Doge should ideally be a few orders of magnitude faster.”

DOGE / USD 1-day candle chart (Bittrex). Source: TradingView

His propaganda struck a chord with some. Seif El Din Amous, author of “The Bitcoin Standard” condemn The practice of promoting a cryptocurrency does not have a job openly to unwitting potential investors.

He replied, “Oh my God, what a genius sense of humor! An incredible intelligence is needed to appreciate the genius of promoting a fraud to 40 million followers.”

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