Dogecoin

Originally created as a joke by Jackson Palmer. The crypto currency exploded over 1100% from january 27th to February 8th (its all time high). The coin is gaining a notoriety from crypto experts who believe its price rise has been driven by Elon Musk and his army of 'memers'. 

Perhaps the evidence is glaring. Dogecoins price jumped 10% after Elon Musk tweeted a picture of the coin's emblematic Shiba Inu dog on top of the moon. While we may laugh at the apparent irrationality the fun police have arrived. The SEC have began investigating Elon Musk over his tweets regarding Dogecoin.

While the cryptocurrency has many doubters Musk has demonstrated an unequivocal assurance in the notorious Dogecoin. His ubiquitous tweets have evidently garnered a lot of optimism surrounding the dubbed meme currency which is now reflective in the coins price. The challenge as Elon Musk sees it is to redistribute the coin from its few concentrated holders to the many. This assesses liquidity issues and makes the coin more applicable in the real world. 

Having fallen 20% in the past two weeks we want to hear your thoughts. Is Dogecoin's February all time high a hint at its trajectory to the moon or was this price hike just a sign of the times. In the dawn of the coronavirus are we propping up dead cryptocurrencies for entertainment? Let us know your thoughts over on our Facebook page and give us a follow while your there! 

Cryptocurrency News: Bad Week For Major Coins

It's been a terrible week within the crypto realm. In the dusk of increasing bond yields we have seen changing consumer sentiment which has left many investors' crypto wallets in the red. Rising bond yields reflect changing market conditions as fears of higher inflation loom greater. There is considerable intrigue across the globe as to how central banks will address growing inflation.

The significant losses we have seen in the stock market this week were partially caused by concerns of higher interest rates to negate the growing inflation in 2021. Higher interest rates adversely affect the stock market. This week we have seen the knock on effects of these macro environment issues plague cryptocurrencies. Changing consumer sentiments have forced crypto holders to readdress their positions resulting in a massive sell off. Renowned for its volatility, the cryptocurrency market cap fell $200 billion in one day in February. 

• The biggest players in the cryptocurrency market have been left bleeding after the frenzy of the stock market sell off. Ethereum the second largest cryptocurrency has lost over $50 billion in market cap just this week now standing at $180 billion in total.  
• Bitcoin was this weeks other big loser. The world's biggest cryptocurrency fell over 17% this week which represents losses of over $9500. Bitcoin reached a market capitalization of over $1 trillion for the first time this week before plummeting to a measly $920 billion. 
  

In the midst of this weeks chaos Cardano's ADA has reached it's all time high of $1.30. Boasting a market cap of $39 billion ADA is now the third biggest cryptocurrency in the world, overtaking Tether and Binance's BNB. The cryptocurrency has exploded in the past 6 weeks, now up a whopping 645%. One of the best performing cryptocurrency's of 2021 the future now looks very bright for ADA. The coins recent surge has landed it in the the spotlight this week, now trending on social media the future looks very bright. 2021 promises to be a big year for the rising star in the crypto realm. While people rush to learn more about the novel challenger to the throne of the crypto realm why not start here. 

Top Performing Altcoins in 2021

XLM originally began in 2014 when XRP ripple's co-founder Jed McCaleb vision for the cryptocurrency diverged from those of his colleagues. Interestingly two of the cryptocurrency's set for a huge explosion in 2021 were founded by the same man Jed McCaleb. Whether the cryptocurrencies are friends or foes they look set to sheer the spoils in 2021. Currently the pair of cryptocurrencies are almost interchangeable priced at roughly $0.45 respectively. For a long time these two altcoins were almost identically correlated in the market. So, its almost poetic that XLM broke out of its longtime correlation with XRP to come join its friend side by side in the spot market. 

Both cryptocurrency's have exploded in 2021. XLM has soared over 350% since the turn of the year. Its noisy neighbour XRP has wasted no time playing catchup for its inconsequential return last year now boasting a return of over 100%. A rumored partnership with JP Morgan means the cryptocurrency may be only getting started in 2021. While there has been much commotion over social media regarding the cryptocurrency's plausible $10 price target, many people continue to remain skeptical due to its ongoing legal battle with the SEC who claim the digital asset is in fact not a cryptocurrency at all. While murky waters may lay ahead there is no doubt the altcoin's high price potential is rested on XRP's efficacy to beat this lawsuit. 

To learn more about Stellar's XLM click here to assist you in any potential investment decisions and discover why this fascinating technology has such upside in 2021. The coin still has ways to go to reach its all time high price of $0.87 in 2017. As the coin continues to make gains in the crypto market the future looks bright for one of the oldest cryptocurrency's. 

Conclusions

• Elon Musk loves Dogecoin 
• Increasing Bond Yields = Bad for Crypto Market 
• Cryptocurrencies tipped to explode in 2021:
• XRP 
• XLM
• ADA