Why Altcoins Like Shiba Inu and MultiversX Blasted Higher Today

The cryptocurrency trading week started off with a bang on Monday as many coins and tokens rose in value, at times precipitously.

Some of the biggest gainers were the more-obscure altcoins. For example, Stacks (CRYPTO: STX) surged with a nearly 42% pop from midafternoon Friday. Other double-digit winners today were Rocket Pool (CRYPTO:RPL) and MultiversX (CRYPTO: EGLD), both with gains around 14%, and NEAR Protocol (CRYPTO: NEAR), which rose nearly 11%. Shiba Inu (CRYPTO: SHIB), meanwhile, advanced by 8%.

None of these cryptocurrencies had inherent news pumping their prices higher. Rather, it was the development of some of the major coins pulling the broader market up with them.

Source Fool.com