The cryptocurrency market has been showing a bullish trend recently, significantly driven by meme coins like SHIB and DOGE, as well as political factors such as the U.S. elections.
Meme Coin Super Cycle Anticipated
Experts believe meme coins will have a significant impact on the market. The strong performance of SHIB and DOGE in the past week contributed to a 1.3% rise in the total crypto market value, reaching $2.33 trillion.
Could Bitcoin’s Rise Impact MicroStrategy’s Stock Prices?
Benchmark analyst Mark Palmer is optimistic about MicroStrategy’s stock price, expecting further growth. Palmer set a target price of $245 per share, indicating significant upside from the current price of $206.
Election and Crypto Voter Block Among Factors for Market Growth
The use of cryptocurrencies on the Polymarket platform during the U.S. presidential elections drew attention. A user named 'Fredi9999' invested over $20 million in pro-Trump bets. As election day approaches, concerns about potential manipulation in decentralized prediction markets have increased.
The increased presence of cryptocurrencies in the political arena is bolstering investor confidence, supporting upward movements in the market.