Earlier today, Ethereum broke an all-time high and closed in on three thousand dollars; Dogecoin also broke an all-time high and closed in on 45 cents.
The crypto space is heating up with Ethereum and Dogecoin breaking all-time highs, and this will be on a steady rise; Ethereum has been rising at a steady pace, breaking all-time highs day after day. Binance BNB also broke an all-time high; this is one coin that is severely undervalued when compared to Ethereum. There is a high possibility that Binance BNB will be testing a thousand dollars the moment Ethereum hits five thousand dollars.
An expert claimed that Ethereum would be hitting $5,000 by the end of May, and with the current price movements we are seeing, a $5,000 Ethereum looks possible now. Bitcoin is losing market dominance while Ethereum and BNB are gaining; we now have three cryptocurrencies with a market capitalization of over a hundred billion dollars, Binance BNB, Ethereum, and Bitcoin.
Dogecoin’s market capitalization is around 56 billion dollars; this puts it around the same market capitalization as Honda, Ford, and Spotify. Dogecoin will have a market capitalization of over a hundred billion dollars for it to hit a dollar. We have to keep in mind that Dogecoin inflationary, which means that more Dogecoins are being created as time goes on.
A one-dollar Doge is still very possible in this bull market, although it may be brief if it happens. Dogecoin may not hit a dollar this pump cycle, but it may hit a dollar during this bull market in the next one or two pump cycles as long as Elon Musk continues to back it.
The first time it peaked back in February, it hit eight cents and leveled out at five cents after correcting. A correction like that is normal after every major pump because people usually have a weak handselling, which causes that dump. The price finds another floor and depending on events, and what goes on in the market, it may start to rise again.
Dogecoin began to pump again, where it pumped to 41 cents and corrected back to 20 cents. The moment Elon Musk announced that he was doing the DogeFather skit on Saturday night live, the crypto began to recover instantly. Dogecoin has been on a steady climb alongside Ethereum since then, and it is now breaking all-time highs over 45 cents.
Ethereum, on the other hand, has been breaking new all-time highs day after day. It is amazing how well Ethereum has been doing compared to Bitcoin, especially with Bitcoin losing market dominance. Ethereum hit $3,000 for the first time, and it is now larger than the Bank of America’s market capitalization.
It is exciting when you think about that and how big the crypto space has been growing. Further growth may still be on the horizon for the world’s largest smart contract platform. A $5,000 Ethereum by the end of May is looking possible at this point, but it depends on how the crypto space is doing as a whole.
