Bitcoin jumped to highs of $71,500 on major crypto exchanges in early morning trading on Oct. 29, the first time BTC has reached the level since June.
While the benchmark cryptocurrency has retraced to around $71,200, bulls are upbeat, with sentiment pushing Dogecoin (DOGE) up by more than 15% to its highest level in nearly six months. Meanwhile, traders taking cue of BTC gains and a potential meme coin rally have pushed Bitcoin Dogs (0DOG) up 4%.
Dogecoin soars as BTC hits $71,500
With Bitcoin having reached the all-time high above $73,000 earlier this year, the latest breakout has bulls eyeing that level for a retest and potentially parabolic end to the year. BTC price was up nearly 4% as it hovered near the $71k level.
Meanwhile, Dogecoin was trading above $0.16, up more than 15% in the past 24 hours. The gains came amid the latest DOGE-related tweet or X post from Elon Musk. If Dogecoin leads the next meme coins breakout, it could target $0.20 and likely $0.25 before fresh momentum kicks in over the next months.
What’s next for Bitcoin and crypto?
Several factors, including the launch of spot Bitcoin ETFs and interest rate cuts by the Federal Reserve and other central banks has helped Bitcoin. Analysts say Fed’s rate cut and the U.S. election could be the two key drivers of the next leg up for BTC.
Donald Trump’s odds on Polymarket have rocketed as those of Kamala Harris plummet, adding to the overall bullish sentiment. This is because crypto holders view Trump as the pro-crypto candidate whose victory will be a win for cryptocurrency in the U.S.
Digital asset manager CoinShares shared this outlook in its weekly update on digital asset investment products inflows. In its report on Oct. 28, it showed the crypto investment products space attracted over $901 million in inflows, with the monthly tally taking assets under management year-to-date to over $27 billion.
In 2021, when the bull market pushed BTC to highs of $69k, the total capital flows into crypto products rose to $10.5 billion. This suggests increased demand and allocation into exchange-traded funds and other products driven by institutional interest.
Bitcoin Dogs: Will it mirror the BTC rally?
With so many coins and potential bull market gems in the mix, a token that stands a chance of being the next big thing needs to stand out.
Bitcoin Dogs (0DOG), the token that launched following the first-ever BRC-20 token ICO on Bitcoin, looks to fit this bill. While its $13.4 million ICO made waves, even more likely to solidify its top gem credentials is the upcoming Bitcoin Dogs game launch.
0DOG holders have a chance to get into a play-to-earn game and experience unique pathways, epic battles and in-game rewards. The game’s release, as well as NFT drop has 0DOG token poised for a potential breakout.
Bitcoin Dogs packs several bullish catalysts, including Bitcoin’s surge, Telegram game and meme coin resurgence. 0DOG brings the utility that gaming tokens on Bitcoin need, while tapping into dog-themed meme culture and the rising Telegram game market.
The Bitcoin Dogs AMA where everything, including airdrops is on the table, could be the signal that catapults 0DOG higher.
Bitcoin Dogs price today
0DOG token’s price has jumped 4% in the past 24 hours to mirror Bitcoin’s percentage gain in the same period. However, with momentum likely to accelerate for small cap coins, it’s possible 0DOG will jump from current $0.0095 level as bulls eye more gains.
Bitcoin Dogs price is up 42% in the past two weeks, with gains coming on the back of Bitcoin’s rebound to $68k. 0DOG traded at highs of $0.04934 in August.
To learn more about Bitcoin Dogs, including its upcoming game launch, visit the official website.
