Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates
Cryptocurrency traders awoke to an altcoin bonanza as a handful of meme tokens, along with some of the more established projects, staged double-digit rallies while (BTC) price slowly recovers to the $57,000 level.
The biggest event generating conversations across the crypto sector and social media is the rise of dog-themed tokens inspired by the recent mega rally from Dogecoin (DOGE). The more than 20,000% rally from DOGE has shocked value investors across the world and many Bitcoin maximalist and equities traders are scratching their heads in confusion, given that DOGE was originally created as a simple joke.
SHIB/USDT vs. ELON/USDT 4-hour chart. Source: TradingViewDaily cryptocurrency market performance. Source: Coin360
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