Altcoins
Top Trader Ditches Bitcoin for Altcoin, Potential Shiba Inu Breakout “Dogecoin Killer” & More: This Week in Cryptocurrency
May 19, 2024 06:00 | 2 minute read
The week has been a roller coaster ride in the world of cryptocurrencies. From a top trader’s surprising move to a CEO’s political warning, the cryptocurrency market was abuzz. Here’s a quick recap of the biggest stories that made headlines.
Top Trader abandons Bitcoin for Altcoins
Famous cryptocurrency trader Michael van de Poppe shocked the market by announcing that he had sold all his Bitcoin holdings to invest in altcoins. Despite Bitcoin’s recent weak price action, Van De Poppe made it clear that his decision was not due to a loss of confidence in Bitcoin. Read the full article here.
Political warning from Uniswap CEO
Hayden AdamsCEO of Uniswap (CRYPTO: UNI), criticized the Biden administration for underestimating the political significance of cryptocurrency. Adams likened the administration’s oversight to a major strategic miscalculation, expressing concern that it could alienate a significant voter base and impact campaign finance. Read the full article here.
Millionaire trader meme coin success
Trader “Bonk Guy” revealed a seven-figure profit in 48 hours of trading on AMC (CRYPTO: AMC) and GameStop (CRYPTO: GME) derivatives on Solana. Bonk Guy invested around $155,000 in the trade, which is currently worth $1.3 million, marking gains of 641%. He believes that the real “meme coin season” has not yet begun. Read the full article here.
Shiba Inu’s potential escape from the “Dogecoin Killer”.
Cryptocurrency trader Javon Marks Predicts ‘Dogecoin Killer’ Shiba Inu (CRYPTO: SHIB) could surpass its all-time high of $0.000088598, implying a price appreciation of more than 282% from current levels. Marks suggests that the meme coin is currently in a “range” phase before continuing its upward trajectory. Read the full article here.
The potential rebirth of Dogecoin
Crypto Kaleo expressed its confidence in Dogecoin (CRYPTO: DOGE) recovery, attributing it to the retail sector’s renewed risk appetite. He highlighted Dogecoin’s enduring relevance, stating: “Dogecoin is not dead. As soon as it starts to pick up a little bit, it will move vertically again.” Read the full article here.
Read next: Why this cryptocurrency market is “a bear trap” and which coins does this trader support
Image via Shutterstock
Designed by Benzinga Neuro, edited by Anan Ashraf
The GPT-4-based Benzinga Neuro content generation system leverages Benzinga’s extensive ecosystem, including native data, APIs, and more to create rich, timely stories for you. Learn more.
ENTER TO WIN $500 IN STOCKS OR CRYPTO
Enter your email and you’ll also receive Benzinga’s latest morning update AND a free $30 gift card and more!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.