Transformative Times for Crypto Although the year 2021 is only a few weeks old, it has already been a tumultuous time for cryptocurrency. With the traditional stock market roiling from the GME Reddit controversy, the crypto market has been going through its own transformation. Not only has DOGE been pumping for the past few days, but all altcoins have been having a moment since BTC sprang back to $33,000. Of course, that was quite a long way off from its high of $41,000, but most veteran crypto investors had assumed that prices would once again settle around $32,000. After the bearish market since late 2017, many were thrilled to see altcoin values lifting so dramatically.
The Dogecoin Connection Perhaps one of the strangest facets of this whole saga has been the way in which Dogecoin has risen alongside traditional stocks. With Redditors egging on purchases of GME alongside DOGE, the "joke" cryptocurrency turned into anything but. People whose DOGE had been worth pennies were shocked to see how much it has skyrocketed within the past few days. What was even wilder was the fact that DOGE was tweeted about more than BTC over the course of 24 hours. This was the first time that an altcoin has surpassed BTC in this way. Obviously, Crypto Twitter is full of BTC maximalists, so the fact that DOGE gained so much ground — in such a short time — was truly confounding to some. And while the currency hovers around five cents or so, there are those in the Reddit community who plan on taking it to a dollar. Whether or not this is possible remains to be seen, but if the past week has taught us anything, it is that the sky is the limit for altcoins these days — and the wild ride seems to have only just begun.