BTC and DOGE Price Surges, Binance Updates, and More: Bits Recap Nov 7

TL;DR

• Bitcoin soared to $76,400 after Trump's election victory, stabilizing around $75,000, with analysts predicting potential highs of $120K to $150K by next year.
• Dogecoin briefly surpassed $0.20, driven by Elon Musk's support for Trump and references to “D.O.G.E.,” resulting in a 78% monthly increase.
• Binance has added new altcoins to its platform, leading to over 70% gains for the listed assets.

BTC Reaches New Heights

The cryptocurrency market has experienced a bullish trend following Donald Trump's victory in the US presidential elections. Bitcoin surged above $75,000 on November 6, coinciding with early election results favoring Trump. Once his win was confirmed, Bitcoin's valuation peaked at approximately $76,400 on November 7.

Although Bitcoin has since retreated to around $74,800, analysts believe the bullish trend is likely to continue. Predictions suggest Bitcoin could reach between $120,000 and $150,000 in the coming months, particularly as it enters the favorable phase of the bull market halving cycle.

Dogecoin's Remarkable Performance

Dogecoin has also seen significant gains, surpassing the critical $0.20 mark on November 6 for the first time since April. Currently trading around $0.19, this represents a remarkable 78% increase over the past month.

Elon Musk's recent support for Trump and his references to a potential Department of Government Efficiency (D.O.G.E.) have contributed to this rally, sparking renewed interest in Dogecoin. Data indicates that on November 6, 89% of Dogecoin investors were in profit.

Binance's New Additions

Recently, Binance expanded its trading options by launching PONKE/USDT perpetual contracts with leverage up to 75x. Following this announcement, the Solana-based meme coin PONKE saw a 15% price increase.

Additionally, Binance listed Cow Protocol (COW) and Cetus Protocol (CETUS), leading to significant price surges of over 70% for both assets shortly after their introduction. Listings on major exchanges like Binance typically enhance liquidity and visibility for the tokens involved.