Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates
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Dogecoin took a leap forward this week, when a former Google engineer launched Dogelon Mars, a rocket that’s scheduled to launch on July 19th, 2018, and will be carrying a payload of Dogecoin. Dogelon Mars is being financed with the help of a crowdfunding campaign that has already exceeded it’s goal of 2 million doge-coins, with a current total of 4,046,992 doge-coins donated to the project. The crowdfunding campaign, along with the rocket launch, is being organised by a group called the Dogecoin Foundation, which is hoping to raise the visibility of Dogecoin by launching a physical object into space, which they claim will be the first cryptocurrency to reach the moon (although
Bitcoin, the first cryptocurrency, has been the most well-known. However, the Bitcoin market has gradually consolidated, with a small number of players holding most of the Bitcoins. In addition, the Bitcoin community has experienced many internal conflicts. The Dogecoin, the currency based on a popular Internet meme, appeared in 2013, providing a breath of fresh air to the cryptocurrency market.
Crypto currency traders woke up to an altcoin bonanza as several meme tokens, as well as more established projects, posted double-digit gains while the price of bitcoin (BTC) slowly recovered to the $57,000 level.
The biggest event that has sparked discussion in the cryptocurrency industry and on social media is the rise of dog-themed tokens, inspired by the recent Dogecoin (DOGE) mega-rally. DOGE’s 20,000+% rally has shocked value investors around the world and left many bitcoin maxers and stock traders scratching their heads in confusion, knowing that DOGE was originally conceived as a simple joke.
The DOGE is down 40% since its announcement on 8… May reached an all-time high of $0.74, other dog-themed tokens took the lead while Dogecoin took a step back.
Chart 4 hoursSHIB/USDT vs. ELON/USDT. Source: TradingView
The demand for Shiba Inu (SHIB) was so great that buyers flooded Binance’s system with deposits, leaving the main exchange without deposit addresses and causing the Australian Safe Shepherd (ASS) token, which is based on Binance’s blockchain, to rise by more than 400% in 24 hours. Dogelon Mars (ELON), inspired by Elon Musk, has grown by 170%.
While Ether (ETH) continues to cling to the $4,000 mark, with bulls managing to fend off any significant downward movement, EOS, once called the Ethereum killer, jumped more than 40 percent after Block.one announced it had raised $10 billion in funding to create an EOS-based cryptocurrency exchange called Bullish Global.
Daily indicators for the crypto-currency market. Source: Coin360
Other notable altcoin gains included a 35% jump in Yearn.finance (YFI) exchange rate to a new record high of $77.041 and a 20% jump in Reef (REEF) exchange rate to an intraday high of $0.508.
The total cryptocurrency market is now $2,449 billion and bitcoin’s share is 42.8%.
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