A weakening Bitcoin presence could give altcoins the moonshot they have waited for for three years.
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A weakening Bitcoin presence could give altcoins the moonshot they have waited for for three years.
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Although Bitcoin is struggling to recover from its recent crash, Ethereum is pushing toward a new high and prompting several altcoins to rally.
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On-chain indicators are simply too bullish to permit a deeper price plunge, analysts argue, with Bitcoin set to remain a trillion-dollar asset.
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Since Slim Jim began furiously promoting Dogecoin on Twitter in February, the number of followers on its account has quintupled.
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Bitcoin benefits from an adoption boost by Venmo, while “Dogecoin Day” so far produces little in terms of fresh price upside for DOGE.
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After debuting Bitcoin payments back in 2014, online electronics retailer Newegg added a Dogecoin payment option.
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Milky Way’s Twitter account also joined in on promoting the meme-based cryptocurrency.
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After the initial oversold bounce, traders are struggling to sustain the momentum of the relief rally in Bitcoin and most altcoins, a signal that selling could intensify at higher levels.
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Dogecoin price rallied more than 500% in the last ten days, resulting in a $50 billion market cap that eclipses ING, Barclays, and Credit Agricole.
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“Dogecoin Day 4/20” and a SpaceX rocket launch are two events fuelling DOGE/USD as year-to-date gains pass 7,500%.
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