Dogecoin Firm Even As Bitcoin, Ethereum Slip: Analyst Sees Meme Coin Rally Paving Way For Altcoin Season

Bitcoin and Ethereum were seen trading in the red on Monday evening, even as the global cryptocurrency market cap inched up 0.07% to $1 trillion at 9:15 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -0.5% 5.9% $20,470.95 Ethereum (CRYPTO: ETH) -0.9% 16.9% $1,572.28 Dogecoin (CRYPTO: DOGE) 0.6% 111.3% $0.125 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Chain (XCN) +26.6% $0.06 OKB (OKB) 6.7% $17.22 The Sandbox (SAND) +4.5% ​​$0.90

Timeline of Bitcoin, Dogecoin, Ethereum

It's been more than four days since Elon Musk completed a $44 billion deal to acquire Twitter and since then Dogecoin has come into mainstream attention. After the news was confirmed the meme coin spiked nearly six-month high and managed to break major resistance levels.

The current Bitcoin price is $20700 as a result of yesterday's significant price increase and the subsequent bullish momentum over the last few hours. Thus, we anticipate BTC/USD will continue to rise and aim for the next resistance level of $21,000.

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has wished Satoshi Nakamoto's Bitcoin whitepaper a happy birthday. “It has led to innovation and crypto asset investing. Let's make sure as crypto enters its 15th year that investors get proper protection,” said the SEC chairman.

It might be a bear season, but new NFT projects can still gain major traction and make substantial noise. That's been best evidenced by Monday's release of ‘Art Gobblers,' an NFT collection that was created by crypto investment firm Paradigm alongside ‘Rick and Morty' co-creator Justin Roiland.

London-based Bitcoin mining group Argo Blockchain's plan to raise $27 million from a strategic investor has failed to take place. The London Stock Exchange today published a press release notifying that Argo no longer believes that this subscription would be consummated under the previously announced terms.

A popular cryptocurrency analyst has suggested that the meme-inspired cryptocurrency Shiba Inu ($SHIB) may be seeing its price rally lose some steam after it surged, along with that of numerous other meme tokens.

Dogecoin was struggling in the market right up until the Twitter deal was finalized. However, once the Elon Musk takeover was announced, the meme coin rallied enormously and was up more than 100% in just a matter of days.

The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting.

Bloomberg's lead commodity strategist Mike McGlone is predicting rallies for Ethereum (ETH) as he says the leading smart contract platform is poised to change the landscape of financial technology.

The Bitcoin Whitepaper, the document that presented the first cryptocurrency to the world, is turning 14 years old today. Investors, community members, developers, and others celebrate this event across social media platforms.