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Seeking Alpha 2021-05-05 08:06:55

Dogecoin surges 63% to 68 cents as altcoin rally gains steam

Another crypto craze is taking the market by the storm as a parabolic rally for altcoins (cryptos other than bitcoin) took the value of all digital tokens past $2.3T. Dogecoin (DOGE-USD), a crypto that started as a joke, is now changing hands at 68 cents, up about 63% in the past 24 hours, 131% over the past week, and over 11,000% so far in 2021. Dash (Dash-USD) also spiked 35% over the last 24 hours and Ethereum Classic (ETC-USD) rose almost 50%, helping crash crypto trading on Robinhood's popular trading app, while Force DAO and Tierion (TNT-USD) surged more than 1,000%.What's happening? Some are pointing to Elon Musk’s upcoming SNL appearance as the "Dogefather," as well as the future of DeFi and other crypto trends, but one of the more immediate catalysts appear to be a change in trading sentiment. Once upon a time investors had talked about the time

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