Analysts suggest Dogecoin traders are rotating profits into large-cap altcoins
Experts say DOGE traders rotating profits into Robinhood-listed altcoins could be behind the rally in LTC, BCH and ETC. Every cryptocurrency bull market has at least one surprise catalyst that comes out of nowhere to excite traders and spark massive trading volumes that lift the total market capitalization to new highs. The 2021 bull market is no exception to this rule, and one of the biggest catalysts for growth this year has been the explosive popularity of Dogecoin (DOGE), which has made headlines in traditional and alternative financial circles as its price surge to new all-time highs....
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Bitcoin’s surge to $23,800 triggered strong rallies in large-cap altcoins like Litecoin and Dogecoin. Litecoin (LTC) and Dogecoin (DOGE) are rallying strongly as Bitcoin (BTC) fights to stay above $23,800. Many analysts say the surge in large-cap altcoins is directly connected to Bitcoin's price action and historical data shows the two tend to move in tandem when BTC goes through bull and bear cycles. As altcoins begin to show signs of newfound momentum, traders are becoming even more confident in the strength of BTC’s trend.Throughout December, altcoins stagnated against Bitcoin,....
What to Know: Dogecoin ($DOGE) is consolidating in a $0.17 to $0.21 range, which analysts view as a key “buy-the-dip” zone. The long-term bullish outlook for $DOGE is supported by a multi-month trendline and the critical technical signal of crossing above the $0.21 200-day moving average. Maxi Doge ($MAXI) is a new high-risk, high-reward meme coin that attracts traders with its “gym bro” brand. Dogecoin, the original meme coin, may seem unusually quiet lately — but don’t be fooled by the calm. Leading crypto analysts suggest this sideways action could be the calm....
Quick Facts: ➡️ $XRP’s leading ETF status and $622M inflows show institutions are finally rotating serious capital beyond Bitcoin and Ethereum. ➡️ This cycle is leading traders to look beyond the top cryptocurrencies and search for the best altcoins to buy, with $PEPENODE, $SUBBD, and $XRP leading the list. ➡️ PEPENODE’s virtual mining and tiered […]
The crypto market is pulling back into support and could face potential headwinds in the short term. In the crypto top 10, Bitcoin has been outperformed by the altcoins sector with Ethereum and Binance Coin, and Polkadot still preserving some of its gains from the past week. Related Reading: CEL Rallies To $2 As Bankruptcy Proceedings Continue, But Rally May Just Be Starting This shows a shift in the crypto market dynamics as investors seem to be regaining confidence in the sector and moving away from Bitcoin. Therefore, the number one crypto by market cap appears to be lagging which....
Bitcoin may be in the last leg of its parabolic run and if the rally sustains, select altcoins may surprise to the upside. Bitcoin (BTC) has consistently been hitting new all-time highs over the weekend, but the latest surge has also created a new high against gold, according to MarketWatch data. This suggests that Bitcoin has been gaining acceptance as the new store of value and that may attract more customers away from gold into Bitcoin. Analysts suggest that the latest rally above $30,000 could have been triggered by aggressive buying from institutional investors on Coinbase, as....