Markets
‘Dogecoin Killer’ Shiba Inu’s Burn Rate Rises 800%, Crypto Market Soars as Sentiment Rises, and More: This Week in Crypto
The week was a rollercoaster for the cryptocurrency market. The crypto world was abuzz with news, from Shiba Inu’s rising burn rate to speculation that certain altcoins would become irrelevant. Top cryptocurrencies like Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD ended April with heavy losses, but market sentiment soared at the start of the new week. Let’s dive into the details.
‘Dogecoin Killer’ Shiba Inu’s Burn Rate Increases 800%
Shiba Inu has experienced a resurgence in its burn rates, with an 800% increase and millions of coins burned in recent transactions, generating positive market sentiment and an increase in prices. Read the full article here.
Fate of Altcoins: Strong Performers or Irrelevants?
Pseudonymous crypto trader “Cold Blooded Shiller” questions whether the market is starting to phase out certain altcoins in favor of stronger performers 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, Dogecoin in April
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 optimistic expectations, could end up being a “complete failure,” according to financial and crypto newsletter WhaleWire. Read the full article here.
Are Dogecoin and Shiba Inu About to Rebound?
Despite a turbulent month, traders remain bullish on Dogecoin and Shiba Inu. Chart analyst Ali Martinez predicts a bullish breakout for Shiba Inu SHIB/USD, while crypto trader YG Crypto analyzes the recent performance of Dogecoin, which has seen a dramatic 40% price drop. Read the full article here.
Crypto Market Soars as Sentiment Rises
Despite the losses in April, the cryptocurrency market started May on a positive note. Major cryptocurrencies are trading higher, with Bitcoin jumping well above the $60,000 mark. Read the full article here.
Read next: Dogecoin is ‘poised for higher’ but Pepe is ‘on a moon mission’, trader exclaims
Image: Eivind Pedersen from Pixabay
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