On May 4, Ether ( ETH ) hit $ 3,500 as the star of this week’s altcoin rally battled Dogecoin ( DOGE ) for yield primacy.
Ethereum does not stop at $ 3,500
Data from Cointelegraph Markets Pro and Tradingview followed ETH / USD as the pair crossed its new historic milestone. At the time of writing, the leading altcoin by market cap is back towards $ 3,330.
We had already seen new highs for the price of Ether yesterday, up 36% over the past seven days. The enthusiasm among analysts and traders was palpable: “ I predicted $ ETH at $ 3,600 over a month ago, but I think it can go much further, ” tweeted Scott Melker.
Short-term targets are concentrated at $ 5,000 , while longer-term forecasts are at $ 10,000 and even $ 20,000. Last year, Ether outperformed Bitcoin in terms of dollar earnings.
Tyler Winklevoss calls Dogecoin “people’s money”
However, ETH wasn’t the only altcoin to impress on Tuesday. After touching his previous ATH last month, Dogecoin is back on the attack, suddenly breaking his record and breaking the $ 0.50 mark for the first time.
After hitting a new all-time high above $ 0.60 , DOGE / USD is back to $ 0.53 with a daily increase of 32%.
The rally accelerated when the large exchange Gemini announced support for Dogecoin , one day after the eToro trading platform.
“ Dogecoin is the people’s currency. It’s organic, irreverent and fun, ” commented Tyler Winklevoss.
Predictably, Bitcoin ( BTC ) felt the pressure of the advance of altcoins, losing both dominance and momentum and returning to $ 55,000 for the second time in 24 hours .