Since the announcement of the US election results, Bitcoin gained new momentum and reached a remarkable new all-time high (ATH) of $82,379.60 on November 11, 2024. The community watched as Bitcoin made headlines with new ATHs every day since the election results.
🚨BREAK: $82,000 BITCOIN
Another absolute record!!
Source: @WatcherGuru pic.twitter.com/E4x3xtzBOT
– Mario Nawfal (@MarioNawfal) November 11, 2024
Bitcoin rises after Trump’s victory in the US elections
Investor interest in cryptocurrencies increased significantly following Donald Trump’s victory in the 2024 US presidential elections. This was highlighted by Bitcoin hitting its new all-time high.
Investor interest has increased due to Trump taking a pro-crypto stance throughout the election campaign. His support for the crypto industry has given investors some optimism about changes in regulatory guidelines for the well-being of everyone involved. This sentiment has attracted increased institutional investment and high trading volumes.
As institutional interest continues to grow along with retail investors, BitcoinThe rise of has paved the way for a broader cryptocurrency rally.
The Gathering of Memecoins
The community is well aware that Bitcoin always has a direct impact on the performance of other cryptocurrencies. This sets the tone for the crypto market. Through the interplay of community support and market dynamics, memecoins rise alongside the movement of Bitcoin.
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 saw a 22.1% rise in the last 24 hours and its price stands at $0.292 with a weekly gain of 88.0%.
Along with Shiba Inu, the memecoin saw a 12.5% rise 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 increase. All of these memecoins have seen an increase of approximately over 10% in the last 24 hours and approximately over 35% increase in weekly gains.
Price predictions for $DOGE, $SHIB and $BTC
For $DOGE and $SHIB, analysts have made strong and bold predictions based on current bullish investor sentiments. According to them, DOGE could reach around $1. Analysts also believe that the $SHIB price could reach around $0.000030.
Analysts also predict that if the current trend persists, Bitcoin could 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 change quickly based on investor interest.
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