Bitcoin (BTC) may be flagging but one cryptocurrency could not be less fazed by the market downturn, hitting new all-time highs.
Dogecoin (DOGE), the altcoin based on a Shiba Inu meme, passed $0.40 for the first time on April 19, capping weekly gains of 400%.
The rags-to-riches moves by DOGE throughout 2021 have wowed pundits and left former bagholders weeping. Now, it appears that even a flash bear market cannot stop its moonshot.
Just seven days ago, DOGE/USD traded at $0.07. As Cointelegraph reported, year-to-date gains are now in excess of 7,500%, while versus the same date in 2020, the pair is up almost 18,000%.
While this naturally beats the rises in Bitcoin, Ether (ETH) and others, the question now is what will happen next and whether an equally spectacular reversal is on the cards.
At the time of writing, DOGE/USD meanwhile traded at $0.36, already a considerable way below its all-time high of $0.445.
SpaceX and its “Technoking†Elon Musk may have the answer. On Thursday, a flight is due to launch which Musk previously hinted would “put a literal Dogecoin on the literal moon.â€
https://twitter.com/scottmelker/status/1383901996445409294″ target=”_blank” rel=”noopener nofollow
Bitcoin meanwhile could only yap at Dogecoin’s heels, down 0.7% on the day to stay close to $55,000.
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