Dogecoin Is Cementing Alt Season, Here’s How

Dogecoin Is Cementing Alt Season, Here’s How

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Since its debut in 2013, Dogecoin has continued to grow as the poster child of altcoins. As it gained popularity, it quickly became synonymous with wild price pumps because of its small value and concentrated holdings.

According to Coin

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, Dogecoin now has a market cap of $69 billion, rendering it the fourth-largest cryptocurrency.

Indicator For Alt Season

The unprecedented rise in the price of the Coin

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is the norm. At the end of April, Tesla CEO Elon Musk tweeted: “The Dogefather SNL May 8,” referencing both the Altcoin

‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoin

season, proof of such pumps must exist prior to the broader market’s positive results.

July 2020 total Altcoin

‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoin

market cap vs. Dogecoin, USD. Source: TradingView

In early-2021 incredible, an additional 182% DOGE pump that took place over the course of two days did signal an altseason. Some 36 hours later, the Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin

hiked over 1,000%. Three days later, the Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin

is essentially a strong predictor for alt season, it’s worth noting that such results should be compared to those of other big altcoins. If Dogecoin lives up to its reputation amid a barrage of supportive press, the latest $0.61 all-time high is a sign of

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