Altcoins are selling off ahead of this week’s Bitcoin ETF launch, perhaps a sign that traders are anxious about this historic listing.
Dogecoin (DOGE) is a cryptocurrency built around the popular “doge” meme featuring a Shiba Inu. Founder Jackson Palmer announced the project on Twitter in November 2013 as a joke. When friends and industry peers encouraged him to pursue the project, Palmer purchased the domain dogecoin.com and began building. He was soon joined by Billy Markus.
The founders believed that Dogecoin could be a more lighthearted and accessible introduction to cryptocurrency, as Bitcoin (BTC) had started to become stigmatized following the Silk Road debacle and mining had become increasingly unfeasible with consumer laptops. Palmer left the project in June 2014.
Dogecoin is based on Luckycoin (LKY), which is itself a fork of Litecoin (LTC). It features an inflationary monetary policy with no cap. The block reward is set at 10,000 DOGE per block per minute.
The price of the Dogecoin-inspired meme cryptocurrency has been consolidating inside a structure that appears like a Bull Pennant.28672
Hopes of a BTC ETF approval sent Bitcoin charging toward a new all-time high and several altcoins are also breaking out of bullish setups.33700
The DOGE may have had its day, and social media is busy poking fun at Bitcoin skeptic Mark Cuban.9076
Bitcoin remains strong above its recent breakout level, but several major altcoins will be under pressure until BTC reveals its next move.25436
Analysts say Bitcoin has started its journey toward a new all-time high and the sideways action from altcoins suggests traders are shifting funds into BTC.34323
The sharp upside retracement surfaces as retail frenzy around Shiba Inu hints at testing May peak levels.56919
The Dogecoin spinoff sprinted past popular blockchain protocols like Stellar and Polygon to become an $11 billion crypto project.34935
Bitcoin and select altcoins are facing selling at higher levels, indicating that short-term traders may be booking profits after the recent rally.52428
SHIB is notably mirroring its mentor Dogecoin's price moves from the Feb.–April 2021 session, raising possibilities of dump ahead.55593
SHIB’s 400% rally brings attention back to dog-themed meme tokens and it could be a sign that DOGE is on the verge of an equal-sized breakout.60871
Over the past week, social memecoin DOGE has risen 25% above the previous psychological price threshold of $0.25.12149
Bitcoin has surged above the overhead resistance and that has pulled several altcoins higher.33705
The major American theater chain wants to let customers buy movie tickets with crypto by 2022.4479
Bitcoin bulls have set their sights on $50,000 and this renewed push is also boosting large and small-cap altcoin prices.36468