As a seasoned crypto investor with more years under my belt than I care to admit, I find myself intrigued by the latest musings of Shibetoshi Nakamoto, the Dogecoin co-founder who never fails to keep us on our toes. His recent tweet about Ethereum’s potential for a moonshot before the year ends is just another example of his knack for stirring up debate in the crypto community.
Billy Markus, also known as Shibetoshi Nakamoto on platform X, has responded to a comment regarding the price of Ethereum.
In a leading role within the meme coin sector, Markus frequently interacts with the wider crypto community, sharing his humorous perspectives on various topics and market fluctuations. His recent tweet delves into the ongoing discussion about whether Ethereum can maintain its bullish trend or if the current surge will level off. A snapshot posted by Markus poses the question of when Ethereum will reach a new peak price.
As a researcher examining the crypto market, I observed that Ethereum surged by 8% in the bearish month of September, an unexpected move that even Dogecoin‘s co-founder took note of.
It seems that Ethereum has climbed approximately 8% this month. Do you believe it could reach unprecedented heights, or “moon,” prior to the year’s end? The majority of people appear to be skeptical about this prospect, as evidenced by their laughter emoji.
— Shibetoshi Nakamoto (@BillyM2k) September 27, 2024
The creator of Dogecoin posed a question to his audience about whether they believe Ethereum’s price will significantly increase (referred to as ‘moon’) before the end of this year. Their responses seemed to indicate a degree of skepticism within the crypto community, suggesting that many do not expect Ethereum to undergo a major rally within the remaining months of the year.
Typically, the creator of Dogecoin is famous for his lighthearted perspectives on the crypto market. Originated as a jest, the Dogecoin cryptocurrency has left many wondering if the founder’s recent comment was meant in jest too, as indicated by the laughter emoji in his tweet. However, it remains uncertain whether this jestful tone is indeed the case.
Ethereum up 8% in September
Ethereum’s 8% rise this month is part of a broader trend of recovery in the cryptocurrency market.
Bitcoin, the most prominent cryptocurrency with the highest market value, seems to be headed towards one of its strongest September growths. This surge is being propelled by a worldwide trend of interest-rate reductions, particularly the U.S. Federal Reserve’s move, which has provided a boost to Bitcoin as it overcomes its traditional seasonal obstacles.
During September, each of the Federal Reserve, European Central Bank, and People’s Bank of China reduced lending rates in an effort to boost economic growth. As a result, investors took advantage of these more lenient monetary conditions by increasing their investments across various sectors such as stocks, gold, cryptocurrencies, and so on, due to the expectation that additional stimulus would follow.
At the time of writing, ETH was up 0.97% in the last 24 hours to $2,674 and up 5% on the week.
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2024-09-28 17:33