“Ethereum, too, has stabilised. It is likely that if bitcoin can continue its bull run that the other reputable cryptos will follow.”
Gavin Smith, CEO at cryptocurrency consortium, Panxora, told Express.co.uk: “We have had a tremendous 12 months of growth in the crypto space so we wouldn’t be surprised to see a period of consolidation and volatile sidewards trading.
“That said, we would firmly separate bitcoin and Ethereum from Doge in our view of the forward potential of crypto.
“This is because both bitcoin and Ethereum have clear value propositions for holders of that crypto.
“Doge, while popular with some participants, cannot escape the fact that it was created as a joke coin and was never actually intended as a cryptocurrency with a value proposition.
“Therefore, we would expect Doge to lag the others once the current personality driven hype has subsided.”