Altcoins
Shiba Inu “Dogecoin Killer” Burn Rate Hits 800%, Crypto Market Recovers as Sentiment Soars and More: This Week in Cryptocurrency
The week has been a real roller coaster for the cryptocurrency market. The crypto world was full of news, from Shiba Inu’s burn rate increasing to speculation that certain altcoins were becoming useless. The main cryptocurrencies like Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin DOGE/USD ended April with heavy losses, but market sentiment soared as the new week began. Let’s get 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, leading to positive market sentiment and an increase in price. Read the full article here.
The fate of Altcoins: successful or irrelevant?
Pseudonymous crypto trader “Cold Blooded Shiller” wonders if the market is starting to phase out some altcoins in favor of higher-performing ones 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.
Heavy losses for Bitcoin, Ethereum and Dogecoin in April
The month of April ended on a sour note for 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 turn out to be a “complete failure”, according to financial and crypto newsletter WhaleWire. Read the full article here.
Should Dogecoin and Shiba Inu rebound?
Despite a turbulent month, traders remain optimistic about Dogecoin and Shiba Inu. Chart analyst Ali Martinez predicts a bullish breakout for Shiba Inu SHIB/USD, while crypto trader YG Crypto analyzes Dogecoin’s recent performance, which saw a dramatic 40% price drop. Read the full article here.
Crypto Market Recovers as Sentiment Soars
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 for higher’ but Pepe is ‘on a mission to the Moon,’ trader exclaims
Image: Eivind Pedersen from Pixabay
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