Altcoins
Shiba Inu ‘Dogecoin Killer’ Burn Rate Rises 800%, Crypto Market Rises as Sentiment Rises & More: This Week in Crypto
The week has been a roller coaster ride for the cryptocurrency market. The cryptocurrency world was buzzing with news, from Shiba Inu’s increased burn rate to speculation that some altcoins would become irrelevant. The main cryptocurrencies such as Bitcoin Bitcoin/USD, Ethereum ETH/USD e Dogemoneta DOGE/USD ended April with heavy losses, but market sentiment skyrocketed as the new week began. Let’s dive into the details.
Shiba Inu “Dogecoin Killer” burn rate increases by 800%
Shiba Inu has seen a resurgence in burn rates, with an 800% increase and millions of coins burned in recent transactions, sparking positive market sentiment and an increase in prices. Read the full article here.
The fate of Altcoins: strong or irrelevant performances?
The pseudonymous cryptocurrency trader “Cold Blooded Shiller” wonders if the market is starting to phase out some altcoins in favor of stronger performers and Bitcoin. He notes that while Bitcoin’s strength is undeniable, there is an interesting separation between altcoins. Meme coins like Dogwifhat, Pepe and Floki Inu have seen significant gains, but will they maintain their momentum? Read the full article here.
Strong losses for Bitcoin, Ethereum, Dogecoin in April
April ended on a sour note for the major cryptocurrencies. Bitcoin, Ethereum and Dogecoin closed the month with losses of 16%, 19% and 40% respectively. Hong Kong’s new Bitcoin ETFs, contrary to bullish expectations, may prove to be a “complete failure,” according to financial and crypto newsletter WhaleWire. Read the full article here.
Are Dogecoin and Shiba Inu Set for a Rebound?
Despite a turbulent month, traders remain optimistic about Dogecoin and Shiba Inu. Chart analyst Ali Martinez predicts a bullish breakout Shiba Inu SHIB/USD, as cryptocurrency trader YG Crypto analyzes the recent performance of Dogecoin, which has seen a dramatic 40% price drop. Read the full article here.
Cryptocurrency Market Recovers as Sentiment Rises
Despite April’s losses, the cryptocurrency market started May on a positive note. Major cryptocurrencies are trading higher, with Bitcoin bouncing well above the $60,000 mark. Read the full article here.
Read next: Dogecoin is “Ready to Rise High,” but Pepe is “On a Mission to the Moon,” Trader Exclaims
Image: Eivind Pedersen from Pixabay
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