Cryptocurrency enters a bull market
Since Donald Trump won the US presidential election, cryptocurrencies have entered a bull market. According to data from the US cryptocurrency exchange Coinbase, Bitcoin began to rebound on November 5, and even surged 10.29% on November 11. On November 12, Bitcoin hit a new all-time high, rising above $90,000. Since November 5, it has accumulated a 28.2% increase. So far this year, Bitcoin has risen from $42,288.58 on January 1, 2024 to $87,670.56 on November 13, 2024, an increase of 107.31%.
DOGE department established
Today, November 13, 2024, Trump announced that Elon Musk and Vivek Ramaswamy will lead the newly formed Government Efficiency Department, which is abbreviated as DOGE.
Trump stated in the statement that the Government Efficiency Department (DOGE) will make the US government more streamlined and efficient. This move is mainly to eliminate over-regulation, reduce wasteful spending, and restructure federal agencies to ensure they operate more efficiently.
3 Altcoins that can be 100x after Musk takes over DOGE!
PNUT
PNUT, as a project themed on political memes, has gained widespread attention since its launch. Especially after being mentioned multiple times by Trump and Musk, its traffic and popularity have surged rapidly. Although its gains were slightly lower than other Altcoins in the initial stage, its market performance has been relatively stable and it has experienced multiple upward trends.
With further market adjustments and consolidation, PNUT is expected to show a strong upward trend. At the same time, the endorsement of Trump and Musk has provided strong support for PNUT, especially in the key event of the election, where it has attracted a large amount of attention.
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PEPE
Recently, the price of PEPE has seen a significant increase. In addition to technological innovations and market sentiment, it has also been driven by Robinhood's decision to list it on its European platform. This move not only brought user growth, but also provided users with opportunities to earn PEPE rewards and deposit bonuses, further stimulating market enthusiasm. Analysts are optimistic about PEPE and predict it will have a strong upward trend based on technical indicators and market sentiment.
At the same time, the whale activity of PEPE has increased significantly, with more than 244 transactions involving amounts over $100,000, indicating strong interest from large holders. This increase in whale interest is consistent with the rise in PEPE prices, suggesting that the market momentum is likely to further strengthen. The growth in trading volume may also attract more investors, potentially exacerbating PEPE's market volatility.
SOL
Solana (SOL) has been one of the hottest crypto assets, with its performance remaining strong. Currently, the trading price of Solana (SOL) is $204, up 7.39% in the past 24 hours, with trading volume significantly increasing to $22.12 billion, and a market capitalization of $104.56 billion, accounting for 3.45% of the total cryptocurrency market cap. Over the past year, Solana has accumulated a 281% increase, outperforming most major cryptocurrencies such as Bitcoin and Ethereum.
Compared to most major cryptocurrencies, Solana's cumulative gains have been more significant. Its price is now above its 200-day simple moving average (SMA), indicating a robust upward trend. At the same time, SOL's consecutive gains have further strengthened market confidence.
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