Dogecoin rallied last week almost touching BTC high from January 2017. No other top crypto has done that yet. This is likely a response to the upcoming Dogethereum. But one has to wonder if it Doge isn’t acting as a canary in an altcoin gold mine.
Dogecoin, pronounced “doggy coin” is a coin based on a meme and created as a joke that has none the less become popular over time. Its code is similar to Bitcoin. Major difference between Doge and Bitcoin include the number of active developers, the large circulating and max supply, the speed, and the historically low price.
It may have joke origins and may not be the world’s most serious project, but its been known to out preform other cryptos at times and is used for online payments and tipping. So its a joke, but also serious.
Let’s look at some of the top cryptocurrencies that aren’t Bitcoin. Longstanding popular alternatives to Bitcoin including ETH, ETC, XRP, XLM, LTC, XMR, ZEC, NEO, and DASH. New top coins include BCH, EOS, ADA, IOTA, TRON, and ZRX.
Market cycles are a natural advent in any market. However, because the cryptocurrency market moves so quickly, market cycles are especially important to understand in cryptocurrency specifically.
Here is an informal speculative theory, “Dogecoin acts as a crypto correction indicator; historically, when Dogecoin is very doing well, an altcoin correction is imminent. Thus, the next time Dogecoin does very well, be wary of a correction.”
Below is a list of important cryptocurrencies and additional resources you can use to learn more about all the different cryptocurrency types.