Against a Sliding Bitcoin, Altcoins Blast Off
4 May, 2021 CryptoParrot
While BTC slides, ETH and DOGE climb to the top
Bitcoin record-breaking rally had finally met its match. With the king of crypto moving to the side during the first days of May, different Altcoins stepped up to the arena. As of late, both Ether and Dogecoin are constantly showing impressive results. The pair of cryptos broke all-time high records over the past couple of days, showing positive signs and raising the hype around decoupling.
ETH bulls pushed the token ahead of $3,400 this May 4th, with the second-placed crypto ranking almost $3,000 increase since the beginning of the year. Powered by a perfect storm with the DeFi and NFT craze, the mining efficiency and ETH first steps towards its 2.0 iteration, the token is now on a class of its own, similar to what BTC has been for most of Crypto history.
The meme token, DOGE, has other factors to thank. Mostly with the hype generated by social media with the billionaire Elon Musk being one of its strongest advocates, the crypto breached over $0.60. After reaching such a mark, however, the token plummeted 15%, falling through the 50 cents resistance. Although extremely volatile, the popularity that DOGE has been gathering is a positive sign for what started as a joke and is now the 4th biggest crypto in the world.
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