Ethereum surpasses $ 3,500 – Dogecoin leaps as giant stock market supports

While the price of Ether (ETH) exceeded $ 3,500, another prominent name in this week’s altcoin rally was Dogecoin (DOGE).

1-hour candlestick chart (Bitstamp) for the ETH / USD pair. Source: Tradingview

Ethereum doesn’t stop at $ 3,500

According to Cointelegraph Markets and Tradingview data, the ETH / USD pair reached an all-time high.

The largest altcoin in terms of market capitalization was in price discovery of over $ 3,500 at the time of publication.

On a daily basis, the price of Ether saw new peaks, while its seven-day increase reached 36 percent.

Analysts and traders also shared this excitement.

Scott Melker told his Twitter followers “I’ve been waiting for the price of ETH to rise to $ 3,600 for over a month, but now I think it could go much higher.” said.

Stating the short-term price target as $ 5,000, the analyst also mentions the $ 10,000 and even the $ 20,000 target. He attributes this to last year’s Ether’s better performance against the dollar than Bitcoin.

Crypto currency market dominance chart. Source: CoinMarketCap

Winklevoss: “Dogecoin is the currency of the people”

Alongside ETH on Tuesday, Dogecoin also saw a huge surge. After returning from an all-time high last month, the bulls officially took revenge. DOGE, which exceeded $ 0.50 for the first time, also surpassed this record. The DOGE / USD parity reached the level of $ 0.55 after a daily increase of 38 percent.

1-day candlestick chart (Bittrex) for the DOGE / USD pair. Source: Tradingview

The price soared after Gemini, one of the leading exchanges, announced that it would support Dogecoin one day after eToro.

“Dogecoin is people’s money. It’s organic, disrespectful and fun,” co-founder Tyler Winklevoss said. made his comment.

Bitcoin (BTC) has lost both market dominance and price strength, feeling the pressure from the rise of altcoins. BTC went below $ 55,000 for the second time in 24 hours.

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