Gemini follows eToro in integrating Dogecoin as Ethereum underscores altcoins’ Bitcoin-crushing surge.
ETH/USD 1-hour candle chart (Bitstamp). Source: Tradingview
Ethereum doesn’t stop at $3,500
At the time of writing, the largest altcoin by market cap was in pure price discovery mode as it sought resistance above $3,500.
The week had already seen new highs for Ether price on a daily basis, with seven-day gains standing at 36%.
Among analysts and traders alike, the sense of excitement on the day was palpable.
Short-term price targets had called for $5,000 while zooming out, $10,000 and even $20,000 were not unheard of as Ether outperformed Bitcoin in dollar gains throughout the past year.
Cryptocurrency market cap dominance chart. Source: CoinMarketCap
Winklevoss calls Dogecoin “the people’s money”
On Tuesday, however, ETH was not alone. After somersaulting off its own all-time highs last month, Dogecoin returned with a vengeance, abruptly crushing its personal best to pass $0.50 for the first time.
Discovery of a new price ceiling was likewise still in progress at the time of writing, with DOGE/USD taking out $0.55 on the back of 38% daily gains.
DOGE/USD 1-day candle chart (Bittrex). Source: Tradingview
The move came as major exchange Gemini announced that it had integrated support for Dogecoin, a day after trading platform eToro.
“Dogecoin is the people’s money. It’s organic, irreverent, and fun,” co-founder Tyler Winklevoss commented.