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Dogecoin continues its upward trajectory after Donald Trump’s victory in the US election, rising 1.45 per cent to $0.39 in the past 24 hours till the Thursday morning. Bitcoin also surged past its record $93,000 before pulling back to $89,695.
Cryptocurrencies Prices Today.
Dogecoin continues its upward trajectory after Donald Trump’s victory in the US election, rising 1.45 per cent to $0.39 in the past 24 hours till Thursday morning. In the last seven days, the price of Elon Musk’s favourite cryptocurrency has surged to more than double as compared with the $0.19 recorded on November 8, 2024.
Bitcoin also surged past its record $93,000 before pulling back to $89,695. It has jumped over 20 per cent in the past seven years.
The price of Ethereum was at $3,216.39, a 0.46 per cent higher in the past 24 years and 13.05 per cent in seven days. Tether remained almost unchanged, both on a daily basis and a weekly basis, at $1.
However, PEPE, now the third-largest meme coin, has witnessed an explosive growth of 122 per cent in the past seven days at $0.00002324.
“Bitcoin surged past the key $90,000 resistance level early in the U.S. trading session, quickly pushing even higher to peak above $93,000 before stabilising back around $90,000,” according to CoinSwitch Markets Desk.
BlackRock’s iShares Bitcoin ETF (IBIT) saw a surge in trading volume, becoming the fourth-most traded product across all ETFs, with $1.2 billion in trades during the first hour of the session, it added.
“As we witness Bitcoin breaking through the $90,000 mark and a broad market rally, it’s evident that investors are gravitating toward the volatility and potential quick returns associated with meme coins. However, while this market surge presents enticing opportunities, investors must remain vigilant. The rapid price movements in this niche highlight the inherent risks, as these tokens can experience steep declines just as quickly as they rise,” Avinash Shekhar, co-founder & CEO of Pi42.
Ultimately, this environment calls for a balanced approach—leveraging the potential of meme coins while exercising caution and conducting thorough research, he added.
