Since the results of the U.S. elections came in, Bitcoin gained renewed momentum and surged to a remarkable new all-time high (ATH) of $82,379.60 on November 11, 2024. It has been observed by the community that Bitcoin has been making headlines with new ATH every day since the election results.
🚨BREAKING: $82,000 BITCOIN
Another all-time high!!
Source: @WatcherGuru pic.twitter.com/E4x3xtzBOT
— Mario Nawfal (@MarioNawfal) November 11, 2024
Bitcoin Surge after Trump’s US Election Victory
Investor interest in cryptocurrencies has significantly surged following Donald Trump’s victory in the 2024 U.S. presidential elections. This was highlighted by Bitcoin by reaching its new all-time high.
The investor interest has increased due to the fact that Trump had a pro-crypto stance throughout the election campaign. His support for the crypto industry gave investors optimism about changes in the regulatory guidelines for the betterment of everyone involved. This sentiment has attracted increased institutional investment and high trading volumes.
As the institutional interest continues to grow along with the retail investors, Bitcoin‘s climb has set the stage for a broader cryptocurrency rally.
The Rally of the Memecoins
The community is well aware of the fact that Bitcoin always has a direct impact on the performance of other cryptocurrencies. It sets the tone for the crypto market. With the interplay of community support and market dynamics, the memecoins rise along with Bitcoin’s movement.
Currently, popular memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), Pop Cat (POPCAT), and Dogwifhat (WIF) have seen significant gains in recent days.
At press time, Dogecoin has seen a surge of 22.1% in the last 24 hours, and its price stands at $0.292 with a weekly gain of a whopping 88.0%.
With Shiba Inu, the memecoin has seen a surge of 12.5% in the last 24 hours, and currently, its price stands at $0.00002609 with a weekly gain of 52.3%.
Other memecoins such as $POPCAT, $WIF, and $FLOKI have also seen a commendable surge. All of these said memecoins have seen approximately more than 10% surge within the last 24 hours and approximately more than 35% of surge in the weekly gains.
Price Predictions for $DOGE, $SHIB and $BTC
For $DOGE and $SHIB, analysts have made strong and bold predictions based on the current bullish sentiments of the investors. According to them, DOGE might reach around $1. The analysts also believe $SHIB price might reach around $0.000030.
Analysts also predict that if the current trend persists Bitcoin can reach the elusive $100,000 mark by the end of November.
The connection between Bitcoin and memecoin indicates the dynamic nature of the cryptocurrency market, where momentum can shift rapidly based on investor interest.
Also Read: Crypto Market Soars After Trump Win ETFs for XRP, ADA, SOL Coming Soon
Credit: Source link