DOGE, ADA, and SHIB have increased by more than 20% of Bitcoin in the past week, up about 80%, 85%, and 50% respectively.
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According to The Block, due to the reduced regulatory uncertainty after the US election, Doge (DOGE), Cardano (ADA), and Shiba Inu (SHIB) have performed strongly in the past week, rising about 80%, 85%, and 50% respectively, outperforming the 20% increase in Bitcoin (BTC). Analysts point out that after Trump's victory, the new government is expected to take a more relaxed approach to crypto regulation, especially for meme coins like Doge and SHIB, which previously faced significant regulatory pressure.
The Bitwise Europe report shows that Bitcoin whales have recently started to accumulate BTC again, with a net outflow of 17,400 BTC, and the trading activity of Bitcoin miners on exchanges is relatively low, reducing the selling pressure. Additionally, the funding rate of Bitcoin perpetual contracts has reached its highest point since March 2024, reflecting a strong bullish sentiment in the market.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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