Cryptocurrency

The price of the Ethereum is $ 4,000 when Shiba Inu (SHIB) steals Dogecoin’s thunder

the-price-of-the-ethereum-is-4000-when-shiba-inu-shib-steals-dogecoins-thunder

The crypto market recovered into the weekend when Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they led the altcoins pack up the mountain of market cap.

Much of the excitement behind Dogecoin’s rally was attributed to the upcoming appearance of Elon Musk, Tesla CEO and Dogecoin attorney, on the popular comedy sketch show Saturday Night Live. On the flip side, Ether continues to climb towards $ 4,000 as institutional interest in the altcoin climbs and the approaching London fork make investors feel particularly optimistic.

Data from Cointelegraph Markets and TradingView show that after a brief slump to a low of $ 3,418 in the late hours of May 8, ether price regained its composure, hitting 13% to hit a new all-time high of $ 3,958.

ETH / USDT 4-hour chart. Source: TradingView

While some have been surprised by the upside of the second largest cryptocurrency by market capitalization, it comes as no shock to Cointelegraph market analyst Marcel Pechman, who recently detailed how ether “can easily hold up to $ 5,000”.

Bitcoin (BTC) has used its time out of the spotlight to quietly climb to the top. The bulls are now trying to keep the price above $ 59,000.

Dog-themed meme coins lead the pack

Dogecoin has become one of the biggest eye-catchers in cryptocurrency history as numerous new users got their first taste of crypto trading using the popular meme token.

The weeklong spike in momentum for DOGE resulted in a 25% increase in early Saturday trading hours, pushing the value to a new all-time high of $ 0.74 before profit-taking brought the price back below $ 0.68.

DOGE / USDT 4 hour chart. Source: TradingView

Thanks to the worldwide attention that Dogecoin has garnered, a number of dog-themed projects have sprung up, including Shiba In (SHIB), which after a two-day rally that saw its value jump 1,100% to start a new one , hit the stage at a record high of $ 0.0000178.

The total market cap for cryptocurrencies is now $ 2.463 trillion, and Bitcoin’s dominance rate is 44.8%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading step is associated with risks. You should do your own research when making a decision.

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Melinda Martin