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Top Trader Ditches Bitcoin For Altcoins, 'Dogecoin Killer' Shiba Inu's Potential Breakout And More: This Week In Cryptocurrency

Published 19/05/2024, 11:00
© Reuters.  Top Trader Ditches Bitcoin For Altcoins, 'Dogecoin Killer' Shiba Inu's Potential Breakout And More: This Week In Cryptocurrency

Benzinga - The week was a rollercoaster ride in the world of cryptocurrency. From a top trader’s surprising move to a CEO’s political warning, the crypto market was buzzing with activity. Here’s a quick recap of the top stories that made headlines.

Top Trader Ditches Bitcoin for Altcoins

Renowned cryptocurrency trader Michael van de Poppe shocked the market by announcing that he had sold all his Bitcoin holdings to invest in altcoins. Despite Bitcoin’s recent weak price action, Van De Poppe clarified that his decision was not due to a loss of faith in Bitcoin. Read the full article here.

Uniswap CEO’s Political Warning

Hayden Adams, CEO of Uniswap (CRYPTO: UNI), criticized the Biden administration for underestimating the political significance of cryptocurrency. Adams likened the administration’s oversight to a severe strategic miscalculation, expressing concern that this could alienate a significant voter base and impact campaign funding. Read the full article here.

See Also: ‘Dogecoin Killer’ Shiba Inu Pumps 6%: ‘I Felt Underexposed,’ Says Trader Who Sees More Short-Term Upside

Millionaire Trader’s Meme Coin Success

Trader ‘Bonk Guy’ revealed a seven-figure profit in 48 hours trading AMC (CRYPTO: AMC) and GameStop (CRYPTO: GME) derivatives on Solana. Bonk Guy invested around $155,000 in trade, which is currently worth $1.3 million, marking 641% gains. He believes the real “meme coin season” hasn't even begun yet. Read the full article here.

‘Dogecoin Killer’ Shiba Inu’s Potential Breakout

Crypto trader Javon Marks predicts that ‘Dogecoin Killer’ Shiba Inu (CRYPTO: SHIB) could surpass its all-time high of $0.000088598, implying a price appreciation of over 282% from current levels. Marks suggests that the meme coin is currently in an “intermission” phase before continuing its upward trajectory. Read the full article here.

Dogecoin’s Potential Resurgence

Crypto Kaleo expressed his belief in Dogecoin’s (CRYPTO: DOGE) resurgence, attributing it to the retail sector's renewed risk appetite. He emphasized Dogecoin’s enduring relevance, stating, “Dogecoin isn’t dead. As soon as it starts to catch a bit of a bid, it will move vertical once again.” Read the full article here.

Read Next: Donald Trump’s Election Odds Just Spiked To 51% According To This Crypto Prediction Market

Read Next: Why This Crypto Market Is ‘A Bear Trap’ And Which Coins This Trader Is Backing

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