Is Arbitrum Doomed? Price Drops 28% as New Dogecoin Rival Rakes in $2.8 Million
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Layer 1 Ethereum competitor Arbitrum (ARB) experienced significant price drops during a market-wide crypto crash, recording a 28% loss over seven days. Despite this, the token has shown a recovery of 14% in the past 24 hours, currently trading at $0.5028. This level of price movement has been compared to the volatility seen in meme coins.
Meanwhile, a new Dogecoin rival managed to rake in $2.8 million amid this turmoil, attracting attention in the crypto community.
The article raises questions about the future stability and potential of Arbitrum in a fluctuating market environment dominated by both established and emerging cryptocurrencies.
Source: cryptonews.com ↗
