Bitcoin Eyes $100K, Dogecoin And MicroStrategy Go Parabolic As Trump Election Win Bull Run Ignites

Updated: 12 November 2024

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Crypto market leader Bitcoin is eying $100K as Dogecoin and MicroStrategy go parabolic after Donald Trump’s US presidential victory ignited a bull run.

BTC once again set a new all-time high of $89,604.50 during the last trading session, and is trading at $88,789.81 as of 2:44 a.m. EST. This follows a more than 10% gain in the crypto king’s price in the last 24 hours, which sent its weekly performance surging 30%.

Bitcoin Less Than 13% Away From $100K

BTC is closing on the $100K mark. Traders and experts have already expressed optimism that the crypto’s bullish momentum will continue, despite the flurry of new all-time highs it has achieved in the last week.

Bitcoin gave everyone a chance to buy breaks from Mar-Oct '24
When BTC decides to "Mark-Up," it never looks back
Throughout its history, when BTC runs – it runs
Based on Jan-Mar '24 run as ONLY one "time/price" Bayesian probability "priors," price could hit $125k by New Years pic.twitter.com/HCiKKojDkA

— Peter Brandt (@PeterLBrandt) November 10, 2024

Popular trader and market analyst Peter Brandt predicted that BTC “could hit $125K by New Years” in a Nov. 10 X post to his over 748K followers. His prediction is based on “Bayesian probability.”

MicroStrategy And Dogecoin Surge As Michael Saylor Buys More Bitcoin

Legacy token and leading meme coin DOGE topped the crypto charts with its stellar 24-hour gain. CoinMarketCap data shows the altcoin registered a more than 40% price increase in the last 24 hours to trade at $0.4.

Michael Saylor’s MicroStrategy also saw its share price soar over 25% in the last 24 hours after it announced it had bought yet another $2 billion worth of Bitcoin.

Much of this gain happened after hours, with the firm’s stock price pumping more than 18%. Overall, the MicroStrategy share price rose over $69 to $340.

The Coinbase share price surged almost 20% to hit $324.24 at close on Nov. 11.

Bitcoin mania taking over the stock market too as Coinbase and Microstrategy are both in Top 5 most traded stocks today, something i've never seen, only Tesla and Nvidia more. Both up an absurd 18% today. Feels like a craze, at least for the moment.. pic.twitter.com/W9T4IPXmQM

— Eric Balchunas (@EricBalchunas) November 11, 2024

Along with the increase in price, MicroStrategy’s shares were also featured in the top 5 most-traded stocks in the first few hours of yesterday’s trading session.

Bloomberg ETF analyst Eric Balchunas noted that MicroStrategy’s trading activity topped that of tech behemoths Apple and Microsoft during the same period.

Meme Coin ICO Sales Surge

Crypto presales are also benefitting from the buoyant market sentiment. Among the biggest gainers are the new PEPE derivative Pepe Unchained (PEPU), which has raised more than $2 million in just five days to pass $27 million in funds raised in its presale.

Another beneficiary of the upswing is Crypto All-Stars (STARS), an innovative meme coin staking platform that has amassed $3.4 million in its ICO.