The altcoin market appears to be less affected by the recent price decline in Bitcoin’s (BTC) price chart. Top altcoins such as Dogecoin (DOGE), Aptos (APT), and new player Big Eyes Coin (BIG) have experienced significant increases during this time. Altcoins are alternative digital currencies to Bitcoin, spliced from the words “alternative” and “coin.” It simply refers to a group of cryptocurrencies—ultimately all the cryptocurrencies other than Bitcoin.
Dogecoin Jumps By 5%, Thanks To Elon Musk
Kansas City Chiefs’ dramatic win and Rihanna’s second pregnancy announcement weren’t the only news that came out of the Super Bowl on Sunday. Another intriguing tidbit was Elon Musk jokingly claiming to be discussing the top altcoin, Dogecoin, with business tycoon Rupert Murdoch.
Musk replied with the word “Dogecoin” to a tweet that showed a photo of the two millionaires talking while sitting next to one another at the game.
His response quickly caused the meme token to soar by as much as 5%, although according to CoinMarketCap, Dogecoin had lost most of its earlier gains as of the time of writing.
The meme coin has increased by 19% so far this year as the whole cryptocurrency market is recovering from the effects of last year’s withering winter.
Musk has long been a supporter of Doge, having adopted it as a form of payment in Tesla’s merchandise store. Following his acquisition of the social media network, there has also been talk about the billionaire CEO using dogecoin as a payment method on Twitter.
APTOs Welcome New Partner Amidst Growth Year
The Aptos blockchain’s native coin, APT, has seen significant growth this year, reaching highs like $19.90, a more than 350% climb from its position at the end of 2022. This was also an all-time high for the Layer 1 proof-of-stake (PoS) blockchain that came onto the scene in October 2022.
It is currently trading at $13.50 with a market cap of $2 million.
This altcoin is continuously expanding its sector, as it recently invested in Chingari, the Web3 social-video app, to offer infrastructural support for its Web3 product base. The partnership, which will take the Solana-native platform multi-chain, is scheduled to launch in the second quarter of this year.
According to Chingari, the app that will debut in Aptos will offer a “more scalable experience with updated products.” Chingari users who are situated in Solana will still receive legacy assistance, nonetheless.
According to The Block, Aptos is funding Chingari as part of the agreement.
Love Is In The Air for Big Eyes Lovers
Less than 24 hours to Valentine’s Day, and Big Eyes has plans for all its UK Cat crew members, as fans of the meme coin are fondly called. It posted on its Twitter page on Monday that, for Valentine’s Day, they had organized for “some volunteers to head out into the public handing out treats and spreading the cute.”
It is no surprise that the team behind BIG is in a good mood, as it has currently raised close to $26 million in its presale, an impressive feat by any standards.
The cat-themed currency is also urging investors to take advantage of the ongoing promo that guarantees a 300% return on investment at launch price by using the extended “LAUNCHBIGEYES200” code. The code, which expires on the 20th of February, gives buyers a 200% bonus for every purchase of the BIG tokens.
Despite the decline in Bitcoin’s price, some altcoins appear to not be suffering a similar fate. Furthermore, as altcoin dominance typically rises anytime the BTC price experiences a decline, BTC investors are turning their focus to the altcoin market. Expect a boom for altcoins.
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