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Dogecoin No Joke, Gains 25 Percent as Bitcoin Holds Onto $7,000

  • Darryn Pollock
    📰 News

    Dogecoin keeps distancing itself from it joke origin as the coin jumps nearly 25 percent with its upcoming smart contract update called Dogethereum


Dogecoin No Joke, Gains 25 Percent as Bitcoin Holds Onto $7,000
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Despite a short blip back under $7,000 Bitcoin has been able to rebound to hover around that area of key support. However, its small climb back to $7,000 is nothing compared to that of Dogecoin, the cryptocurrency named after a meme.


Dogecoin is starting to show that it is no joke and that it should be taken seriously as it develops an upcoming ‘Dogethereum’ smart contract. This move to make the coin more useful keeps investors interested as they buy up in anticipation for its implementation.

Stability at $7,000

With Bitcoin showing it has the strength to hold steady in and around the $7,000 mark there is general good sentiment across the cryptocurrency market, especially as it has managed to pull back from dropping under that mark.

Most of the top 10 coins are up small percentages over the last 25 hours, also bouncing back from the Bitcoin fall, However, EOS is showing gains of five percent over 24 hours, but the growth has been good for the whole week as the coins has gone from $4.94 to $6.44 at its highest point for the last seven days.

Dogecoin spiking

Dogecoin has risen significantly in the last seven days, but especially in the past 24 hours. The 25 percent gain seems to have a lot to do with improvement to the Blockchain which will add smart contracts.

The main goal of the smart contract is to create a bridge between DOGE and the Ethereum network by enabling the transfer of DOGE on the Ethereum chain.

Alex Van De Sande, a core member of the Ethereum Foundation recently tweeted:

“The Dogethereum team is still working hard on the bounty, and now they will present work in order to reach a new milestone for 746 Ether. All information is being made public beforehand so the public and the judges can make a decision”

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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