Litecoin, Dogecoin and Bitcoin Dogs have recorded gains as cryptocurrencies rose during early U.S market hours on Wednesday. Bitcoin topped $68,250 again following the wild flactuation seen late Tuesday.
In this case, the BTC gains include a notable bounce from the sharp drop to lows of $64k on Oct. 15. Traders saw millions of dollars liquidated for both longs and shorts.
As with the flagship cryptocurrency, Litecoin is seeing increased upside pressure. The positive sentiment is nonetheless not limited to the proof-of-work coin as Bitcoin Dogs is also rising.
Crypto surge and Bitcoin Dogs outlook
As meme coins show resilience, other community-driven ecosystems seeing significant traction are the play-to-earn and NFT markets. Projects that offer real value via community incentives, engagement and integration are on the rise in the space.
The widespread gains across the market have cascaded into Bitcoin Dogs. This new cryptocurrency, which launched as the first ICO on Bitcoin, is showing a notable upside momentum.
0DOG is a token in the BRC-20 ecosystem whose massive $13.4 million fundraiser and swift exchange listings have added to Bitcoin Dogs’ attractiveness as Bitcoin and meme coins rally. Analysts say Bitcoin Dogs is well-positioned in this market cycle having recently teased its highly anticipated game.
BTC rises amid spot Bitcoin ETFs net inflows
Per data on SoSoValue, the U.S. spot BTC ETFs saw net inflows of over $371 million on Oct. 15, the third consecutive day of net inflows. After over $555 million flowed into the market on Oct. 14, the cumulative net inflows over the last three trading days has surpassed $1.18 billion.
These positive net flows suggest a bullish outlook for the market – which has helped Bitcoin price up. Other factors such as the U.S. election have seen analysts predict a rally for BTC beyond the all-time high reached in March 2024.
According to data from CoinGecko, BTC reached highs of $68,257 across major exchanges and could target $70k. If this happens, the benchmark crypto asset’s ATH above $73k could be hit before the U.S. election.
Litecoin (LTC) soars amid spot ETF news
While most attention was undoubtedly on Bitcoin’s massive spike above $67k on Tuesday, the market also witnessed considerable demand reload for Litecoin.
LTC price surged by more than 8% in the last 24 hours to break above $72 for the first time since dipping below the $70 support level as crypto crashed in early August, 2024.
The altcoin gained as news that Canary Capital had filed for a spot Litecoin exchange-traded fund hit the market. Like in the case of similar filings for Bitcoin, Ethereum, Solana and recently XRP, the development appears to have buoyed traders.
Notably, Canary Capital’s S-1 filing for spot Litecoin ETF on Oct. 15, coincided with another huge net inflow into spot Bitcoin ETFs.
Dogecoin gains
Litecoin, at current prices, is still more than 80% off its all-time high of $410 reached in May 2021. However, if Bitcoin breaks higher, there could be a massive room for an LTC price breakout.
It’s the same outlook for Dogecoin (DOGE), the top meme coin by market cap. With risk appetite back and meme coins continuing to be a top narrative, its likely DOGE adds to the 15% and 23% gains seen in the past week and month respectively.
DOGE trades around$0.12 with price up 10% in the past 24 hours. The meme coin rose to above $0.73 during the 2021 bull market.
Meanwhile, 0DOG price at $0.007046 and may be a great entry point for buyers.
Learn more about Bitcoin Dogs here.
