Altcoins Bull Run: XRP, DOGE, PEPE, BONK soar 100% as BTC holds at $90K

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As a seasoned crypto investor with a decade-long journey through the volatile and unpredictable world of digital assets, I’ve learned to appreciate the thrill that comes with each new bull run. The recent surge we are witnessing, led by Bitcoin maintaining its position at $90,000 and altcoins like DOGE, BONK, and PEPE skyrocketing, feels reminiscent of the 2017 mania.

As a crypto investor, I’m riding high on the buzz in the cryptocurrency market right now. Altcoins like XRP, DOGE, BONK, SOL, and PEPE are skyrocketing with gains over 100% in just a few days. Even as Bitcoin maintains its position above $90,000, it’s serving as a sturdy foundation for the market, stirring up optimism among investors.

Bitcoin’s Steady Ascent to $90K

Bitcoin has maintained its stronghold close to the $90,000 price level, marking an important milestone in its history as the world’s leading cryptocurrency. Analysts attribute this stability to a mix of factors such as continuous institutional investments, reduced selling pressure from long-term investors, and growing expectations for prices to hit $100,000.

BTCUSD – TradingView

Moreover, Donald Trump’s victory in the 2024 U.S. Presidential Election significantly contributed to pushing Bitcoin, as well as the broader cryptocurrency market, to unprecedented peaks. This surge was further amplified by macroeconomic instability, leading to a massive increase in interest for Bitcoin among both individual and institutional investors.

Altcoin Market Light Ups

Currently, Bitcoin remains steady around $90,000, but it’s altcoins that are experiencing extraordinary development. Notably, coins such as XRP, Dogecoin, BONK, SOL, and PEPE have been the focal point of this week’s surge, leaving traders and investors intrigued by their impressive returns.

In a manner reminiscent of previous cryptocurrency surges, altcoins have historically experienced extraordinary rises when Bitcoin stabilizes following a spike to record highs. This pattern seems to be repeating itself now as Bitcoin hovers around $90,000 and the altcoin market is experiencing impressive growth over the past week.

Let’s take a look at some of the top alternative cryptocurrencies that are showing signs of dramatic growth within the current upward trend.

XRP: Riding the Wave of Regulatory Wins

In just seven days, the value of Ripple‘s XRP token has skyrocketed by more than 100%, currently trading at $1.15. This surge is linked to favorable progress in Ripple’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). A significant court decision that supports Ripple has rekindled investor trust in XRP, viewing it as a promising choice for cross-border transactions and institutional investment, all while the market is buoyant.

XRPUSD – TradingView

The price surge of XRP has also led to a substantial increase in trading activity. Many market observers have noted that large investors (whales) are amassing XRP, expecting more profits. Analysts predict that if Ripple effectively leverages its legal status, XRP could continue to grow in the near future.

DOGE: Memecoin Resurgence with a Political Twist

Once more, Dogecoin (DOGE) has sparked conversation throughout various circles, experiencing a 33% increase in the last week and almost doubling, with a 160% surge over the past month. The recent spike in Dogecoin’s price can mainly be attributed to an unexpected political event: Donald Trump’s unexpected victory and the announcement of a novel department called Department of Government Efficiency (D.O.G.E).

DOGEUSD – TradingView

In this innovative department focused on boosting technology and streamlining government functions, notable individuals such as Elon Musk and Vivek Ramaswamy play significant roles. These two figures are known advocates for invention, and their participation has significantly increased Dogecoin’s significance within the context.

The backing of Dogecoin by Elon Musk as the symbol for a fresh department has ignited excitement within the cryptocurrency world. Social media outlets are now filled with jokes, discussions, and predictions about the possibility of Dogecoin being incorporated into governmental projects, adding to its allure among individual investors.

BONK & PEPE: The Meme-Driven Powerhouse

In just a week, the memecoin BONK, which is deeply rooted in Solana’s community, has experienced an incredible 120% increase. This surge can be attributed to BONK’s recent inclusion in DeFi platforms and NFT marketplaces on the Solana blockchain, which has sparked widespread adoption and boosted trading on decentralized exchanges. Meanwhile, PEPE has also seen a resurgence, soaring by 90% over the same period.

These meme-based cryptocurrencies have outpaced numerous well-established blockchain initiatives boasting robust foundations and promising futures. Given that Bitcoin maintains its current value trajectory, there’s an anticipation that the price of these memecoins will persistently surge even higher.

What Lies Ahead for Crypto Market?

According to Coinmarketcap’s data, the current surge in altcoins has pushed the overall crypto market capitalization beyond $3 trillion – a figure last reached at the height of the prior market boom. At present, investor confidence is predominantly optimistic, with even lesser-known cryptocurrencies recording double-digit increases as traders explore opportunities beyond Bitcoin.

If Bitcoin maintains around its current price point of $90K, market observers remain hopeful about the ongoing expansion of alternative cryptocurrencies. Nevertheless, it’s important to note that some industry professionals have expressed concerns about possible declines due to the inherent volatility within crypto markets. It would be wise for investors to proceed cautiously and concentrate on projects demonstrating robust foundations.

On Monday, November 18, the U.S. market’s reopening will play a crucial role in the cryptocurrency market, setting Bitcoin on a path towards potential new records or a possible correction before another surge. If Bitcoin manages to preserve its leading position and alternative coins continue their upward trend, we might be looking at an extended period of bullish momentum similar to the 2021 growth spurt.

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2024-11-18 14:45