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Analysts suggest Dogecoin traders are rotating profits into large-cap altcoins

Published 05/05/2021, 04:15 PM
Updated 05/05/2021, 06:00 PM
Analysts suggest Dogecoin traders are rotating profits into large-cap altcoins

Every cryptocurrency bull market has at least one surprise catalyst that comes out of nowhere to excite traders and spark massive trading volumes that lift the total market capitalization to new highs.

The 2021 bull market is no exception to this rule, and one of the biggest catalysts for growth this year has been the explosive popularity of Dogecoin (DOGE), which has made headlines in traditional and alternative financial circles as its price surge to new all-time highs over the past few months.

DOGE/USDT 4-hour chart. Source: TradingView
LTC/USDT 4-hour chart. Source: TradingView
VORTECS™ Score (green) vs. LTC price. Source: Cointelegraph Markets Pro

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