Bitcoin
Bitcoin$49 070.47

-13.75%

Ethereum
Ethereum$3 715.10

-13.42%

Binance Coin
Binance Coin$575.78

-14.03%

Tether
Tether$1.00

0.04%

Cardano
Cardano$1.61

-8.86%

Dogecoin
Dogecoin$0.390457

-21.85%

Price predictions

Elon Musk boosts Dogecoin again amid fresh ‘strong interest’ in altcoins


28 Apr 2021   #Dogecoin

Musk is about to host Saturday Night Live, something he says he will do as “The Dogefather” as DOGE/USD shoots up more than 20%. Dogecoin (DOGE), the meme-based cryptocurrency that is a pet favorite of Elon Musk, has a new date for its price diary - Musk’s appearance on Saturday Night Live. In a tweet on Wednesday, Musk described himself as “The Dogefather” as he prepares to host the popular American television show on May 8.

Musk is well known for his PR stunts when it comes to Dogecoin, with social media posts often sparking price gains — something which has also benefited Bitcoin (BTC).

A familiar scenario for Dogecoin fans, Musk’s latest round of publicity immediately fuelled a rebound in DOGE/USD, which was up 20% in hours at the time of writing. Bitcoin’s previous price dip had cost the altcoin sector dearly, with DOGE bottoming far below its recent record high of $0.47. That peak had also been caused in part by Musk, who had promised to “put a literal Dogecoin on the literal moon” via the latest rocket launch of one of his companies, SpaceX. Last week saw an improvised “holiday,” dubbed “Dogecoin Day,”

Analyst eyes broad altcoin strength

The latest tweet nonetheless instantly placed DOGE in the top three daily movers with 20% gains to $0.32, beating Ether (ETH), which had itself just posted new all-time highs. Bitcoin continued to range, meanwhile, failing to cement $55,000 support in a boon for those expecting a continuation of “alt season 2.0.”

“This recent recovery in Altcoin Market Cap is much sharper than the post-retrace recovery in February,” popular Twitter account Rekt Capital commented on Tuesday, comparing different retracements in 2021. “Even the actual -17% April retrace itself is shallower than the one back in February. These are all signs that point to a strong interest towards Altcoins in general.”

Unsubstantiated rumors that Facebook would announce a BTC allocation in its quarterly earnings due later on the day provided some bullish counterpoint to the mood. 

#source

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.