Bitcoin hit a new all-time high of $85,000 earlier this month, driving sharp gains in altcoins like Ethereum (ETH) and Dogecoin (DOGE) as well. The gains come as altcoin season appears to be just around the corner, and as traders navigate uncharted waters in the crypto space. ETH has struggled with declining network activity recently, increasing its vulnerability compared to Bitcoin (BTC), but the demand for its blockchain services has stagnated.
Lower gas fees, while beneficial for users, have reduced the income for miners and validators and impacted ETH’s price. Despite a recent 36% rally, some believe that the asset is still trading at a discount. Solana and Dogecoin have emerged as two of the most popular altcoins on the market right now, with SOL gaining more than 37% in the past week to trade at $218 and DOGE surging more than 106% in the same period to trade for $0.3225.
Elon Musk, the world’s richest man with a net worth exceeding $300 billion, is a long-time supporter of Dogecoin and has recently joined the Trump campaign, which could see DOGE run to new highs in the coming months. Husky Inu (HINU) is one of the newest members of the highly coveted Solana network, created to bring its holders more value and utility by harnessing the power of this blockchain.
HINU recently launched the presale of its native token, OIL, with tremendous success, and the two are on a mission to conquer the memecoin industry through a robust and supportive community with innovative features and enhanced rewards.
