BTC, DOGE price explosions, recent Binance updates and more: Bit Roundup November 7

TL;DR

Bitcoin rose to $76,400 after Trump’s election victory, stabilizing at $75,000, and analysts were eyeing potential highs of $120,000 to $150,000 next year. Dogecoin briefly topped $0.20 as Elon Musk’s support for Trump and references to “DOGE” led to a 78% monthly jump. Binance added new altcoins to its platform, leading to gains of over 70% for the listed assets. BTC climbs to a new peak

The cryptocurrency market has been bullish since Donald Trump won the US presidential election. During his campaign, the Republican made several promises related to BTC, and unsurprisingly, the leading digital asset is now among the top performers.

It rose above $75,000 on Nov. 6, shortly after early results showed Trump with the lead in the contest against Kamala Harris.

Later, his triumph became official after he crossed the threshold of 270 electoral votes and achieved victories in key states such as Pennsylvania, Georgia and North Carolina. This fueled another push for BTC, whose valuation reached a new all-time high of approximately $76,400 today (November 7).

BTC Price, Source: CoinGecko

While in the following hours the asset retreated to its current $74,800 (according to Coingecko data), many analysts believe the bull run is far from over. User X Sensei predicted that BTC is “about to go parabolic” and will rise to $120,000 in the coming months.

Veteran trader Peter Brandt also chimed in. He stated that the asset is now in “the sweet spot of the bearish half-cycle that should break above $130,000 to $150,000 next August/September.”

DOGE achievement

The main meme coin also saw substantial gains of late. It broke the psychological level of $0.20 on November 6 (for the first time since April), but pulled back slightly and is now trading at about $0.19. This represents an increase of 78% on a monthly basis.

Price DOGE, Source: CoinGecko

DOGE’s success can be attributed to Elon Musk’s interactions. One of the richest people on the planet supported Donald Trump during his presidential campaign and shared his intentions to lead a potential Department of Government Efficiency (DOGE). He mentioned the division’s abbreviation several times in the past few weeks, causing the price of the meme coin to appreciate.

Dogecoin’s rally has been very beneficial for its holders. Data from IntoTheBlock showed that there were no investors underwater at one point on November 6. 89% were sitting on some paper profit, while 11% were in the balance. At the moment, 10% is in the red zone.

Binance Amendments

The exchange expanded the list of its trading options in recent days. Earlier this week, it launched PONKE/USDT perpetual contracts with up to 75x leverage. PONKE, the involved meme coin based on Solana, witnessed a 15% price increase shortly after the announcement.

Most recently, Binance listed altcoins Cow Protocol (COW) and Cetus Protocol (CETUS) with seed tags. Newly added trading pairs include COW/USDT and CETUS/USDT.

The valuation of both assets soared more than 70% after the disclosure. Listing on a major exchange like Binance often has this effect as it improves liquidity and increases the credibility and visibility of the tokens involved.

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