CoinDesk 20 Hits Record as SHIB and DOGE Soar: CoinDesk Indices Market Update

All 20 cryptos in the index appreciated last week, leading to a one-week gain of 24%.

AccessTimeIconMar 5, 2024 at 5:17 p.m. UTC
Updated Mar 8, 2024 at 10:40 p.m. UTC

CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).

The CoinDesk 20 closed on Monday at an all-time-high of 2,538 after having traded above 2,600 overnight. This index is now higher by just shy of 50% year-to-date.

CD20 YoY Line Chart

Meme coins shiba inu (SHIB) and dogecoin (DOGE) continued to outperform among the 20 large-cap assets in the CoinDesk 20, gaining 237% and 102%, respectively. Bitcoin cash (BCH) also saw an outsized gain of 65%.

CD20 WoW Leaders

Although all 20 assets in the index are trading higher than Monday’s close last week, Layer 1 Smart Contract Platform Internet Computer (ICP) was a noticeable laggard with just a 2.1% advance.

CD20 WoW Laggards

The CoinDesk 20 tracks the world's largest and most-liquid cryptocurrencies in an investible index available on multiple platforms. The broader CoinDesk Market Index comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization.

Edited by Stephen Alpher.


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Tracy Stephens

Tracy Stephens is a Senior Index Manager at CoinDesk Indices.

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