Dogecoin Spikes on Elon Musk’s DogeShades; Why Clover Finance, Electroneum Rallied Massively Amid BTC Price Lag

Dogecoin (DOGE) is stealing the show with its latest rebound from lows of $0.171. This time, Elon Musk didn’t tweet about Dogecoin but he did change his Twitter profile picture, which now has Musk with a pair of aviators looking all dapper -with Dogecoin reflected in the glasses. His Twitter Bio also reads ”meme necromancy while u wait”. At the time of writing, Doge was trading at $0.19, up 9.55% in the last 24 hours.

On the other hand, Bitcoin (BTC) bulls seem to have defended the $31,000 level again, following a mild intraday rebound to highs of $31, 949 during the Saturday session. The Altcoin market is reflective of Bitcoin price action. As of press time, the daily losses recorded across the board were dissipating and some Altcoins even began posting a rebound.

Hedera Hashgraph (HBAR, +1.87%), Polkadot (DOT, +1.33%), Ethereum Classic (ETC, +1.70%), IOTA (MIOTA, +5.23%), NEM (XEM, +11.98%), SushiSwap (Sushi, +10.59%), Holo (HOT, +4.30%) were seen posting mild recoveries in the last 24 hours.

Notably, Bitcoin (BTC) remains in a sideways range since May, as much as 54% lower than its peak. Analysts say Bitcoin might be prepping for a price breakout – higher or lower – after trading in a range between roughly $30,000 and $40,000 for the past eight weeks.

Why Clover Finance, Electroneum rallied massively

Clover Finance is a Polkadot parachain, committed to providing easy-to-use blockchain infrastructure and creating a one-stop EVM compatible framework for substrate-based applications.

Bullish news of Coinbase Pro listing sent Clover Finance (CLV) to all-time highs of $2.29 on July 17, while gaining nearly 193% in the process. On July 15, the network announced ”Clover Finance inbound transfers are officially accepted on CoinbasePro with the ERC-20 version of CLV”. This also coincides with a separate listing both on Kucoin and FTX.

Electroneum (ETN) is a mobile-phone-based crypto platform that offers an instant payment system. Positive speculations that Electroneum would be joining forces with Ripple Labs and Quant network to form the ‘Digital Pound Foundation Limited’ to create a CBDC for the UK sent ETN price flying from lows of $0.006 to intraday highs of $0.0149, rallying nearly 148%.

The ETN Network blockchain upgrade is also under intense testing to ensure it remains secure and operational.

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