Dogecoin and ethereum have hit new all-time highs on Tuesday amid a crypto market frenzy. The price surges mean that the combined value of all cryptocurrencies is now greater than the market cap of Apple – the world’s most valuable company.
Bitcoin has also continued its recovery from the late April price crash, which saw it fall from around $65,000 to $48,000. It is currently trading at around $56,000 and has seen steady gains over the last few days.
The surprise jump in the price of dogecoin has been spurred on by tweets from Elon Musk and the announcement by the popular trading app eToro that it will now offer the meme-inspired cryptocurrency to its 20 million users. Dogecoin is up by nearly 20 per cent over the last 24 hours and by 60 per cent over the last week
Not all major cryptocurrencies experienced gains overnight, with both cardano (ADA) and bitcoin cash both falling in value by around 3 per cent.
Bitcoin price awaits ‘2nd leg’ of bull market
Bitcoin has been relatively quiet in recent days, both in comparison to its typical movements, as well as other cryptocurrencies like dogecoin and ethereum.
After briefly falling below $54,000 on Tuesday, it has now jumped nearly $4,000.
Some market analysts claim it has been a consolidation period, ahead of another potential bull run towards $100,000 and beyond. Others predict a crash to around $30,000.
One of the most optimistic experts is PlanB, whose stock-to-flow model has proved impressively accurate up until now. He appears hopeful that we’re about to see another price surge.
Anthony Cuthbertson5 May 2021 17:23
Dogecoin’s march continues – as other cryptocurrencies stay static
Dogecoin is continuing to rise. It’s up 20 per cent over the last 24 hours – and 120 per cent over the last week.
Everything else is fairly flat. Bitcoin, for instance, is only up a little both over both the day and the week, and ethereum is even down.
Andrew Griffin5 May 2021 15:33
Ethereum’s price momentum could see it ‘flip bitcoin’
The vast gains in ethereum could soon see it overtake bitcoin, that most famous of cryptocurrencies, according to some experts.
There are technical reasons that ethereum might function better as a cryptocurrency when compared with bitcoin, that could eventually drive changes in each of their prices.
Andrew Griffin5 May 2021 10:42
Gemini becomes latest exchange to add dogecoin support
Dogecoin’s price just received another major boost after the popular cryptocurrency exchange Gemini added support for it.
It is now trading above $0.56, having peaked today at $0.58, marking a 36 per cent gain over the last 24 hours. Just a week ago, it was less than half that price.
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Anthony Cuthbertson4 May 2021 21:22
Dogecoin price hits new all-time high
The price of dogecoin has just broken a new record, surging above $0.46 for the first time in its history.