Some believe that the sector has more room to grow as traders look to benefit from emotional speculation in the new year.
Market capitalization has taken most of the worst part derived from Monday's moderate sell-off, while XRP and Hedera (HBAR) continue to defy expectations.
Dogecoin (DOGE) has fallen 8% on the day to $0.42 after hitting a 24-hour high above $0.45. The seminal meme coin is based on the eventual creation of a government efficiency department, which will be headed by Tesla CEO Elon Musk and Vivek Ramaswamy next year.
Despite the recent bullish fervor, other dog-themed tokens, including Shibu Inu (SHIB) and Dogwifhat (WIF), have also dropped by 5.4% and 7.4%, respectively, according to data from CoinGecko. Floki (FLOKI) has also declined by 4.2%.
