It feels like a bull cycle once again as bitcoin’s price continues to chart new all-time highs almost daily, with the latest coming hours ago at just shy of $80,000.

The altseason seems to be kicking off as well, with multiple alternative coins registering double-digit price surges over the past day.

BTC’s New and Latest Peak

It’s safe to say that the cryptocurrency landscape has become entirely different after Donald Trump’s win in the 2024 US presidential elections. Recall that BTC struggled at $67,000 on Monday but soon skyrocketed to $75,000 after his victory became official and has only doubled down since then.

The US Fed’s rate cut on Thursday sent the asset flying once again, this time to roughly $77,000. Bitcoin calmed on Saturday but went back on the offensive earlier today. This time, it shot up above $79,000 and peaked just shy of $80,000. This came amid a week of massive inflows toward the spot BTC ETFs, as the products attracted roughly $2.3 billion in the last three trading days.

With its current price tag of around $79,500, bitcoin’s market cap has surged past $1.570 trillion. Its dominance over the alts has been reduced lately given their spectacular performance, but it is still above 55% on CG.

Does it Feel Like Altseason?

The altcoins trailed behind BTC on Wednesday but have performed quite mind-bogglingly in the past few days. Looking at the last 24 hours alone paints a beautiful green picture.

Cardano and SUI have emerged as the top performers from the larger caps, having surged by over 30% each. ADA’s reasoning is quite interesting as it involves IOG’s founder, Charles Hoskinson, and the upcoming Trump administration.

Dogecoin tapped a multi-year peak of its own above $0.23 after it more than doubled its price tag in a month. Ethereum sits close to $3,200 after surging by 30% in the past week. SHIB has gained more than 17% in a day, while the double-digit price increase club is also joined by BCH, DOT, CRO, APT, KAS, and many others.

The total crypto market cap is up by about $130 billion since yesterday and sits above $2.850 trillion on CG.

The largest meme coin by market cap has continued its rally, which was solidified by Donald Trump’s election as the new US president earlier this week, and has soared past $0.23 for the first time since the 2021 bull run.

At the same time, numerous X analysts and users have started to predict rather wild price targets, including one for $3.9 per DOGE.

The chart above showcases DOGE’s massive rally as of late, which drove it from $0.1 last month to $0.23 earlier today. This means that the meme coin soared to its highest price tag in nearly three years after surpassing the 2024 peak of $0.228 charted in March.

Perhaps the most probable reason behind this impressive run is Dogecoin’s affiliation with Elon Musk, who has played a vital role in Donald Trump’s victory in the 2024 US presidential elections. Trump and Musk spoke about establishing a Department of Government Efficiency (D.O.G.E) under the former’s administration, which will be led by Tesla’s CEO.

Given the acronym, DOGE’s price benefited a lot after each time the potential new department was mentioned during the campaign speeches.

Despite already being 110% up on a monthly scale, numerous X traders and analysts predict an even brighter future for the largest meme coin.

Mags, a crypto user with almost 100,000 followers, outlined a ‘conservative’ prediction of $1.17, which could be reached during a meme coin supercycle.

$DOGE pump will melt faces.

Last cycle, I shared Dogecoin before it went up by 170x.

This time, I’m targeting $1.17 – 8x (conservative target)

We are in a memecoin supercycle, and you really think DOGE won’t hit at least $1? https://t.co/2e2PE6ahAX pic.twitter.com/ztP1Ue2XfD

— Mags (@thescalpingpro) November 9, 2024

Kev_Capital_TA was even more bullish, indicating a potential price level of $1.8 or even $3.9 under certain, rather unlikely, circumstances.

In every single #Dogecoin cycle it has reached the 1.618 Macro Golden Pocket. The current Macro golden pocket is $3.90. However if we measure from the top before the Elon Saturday night live craziness then the macro golden pocket is at $1.80 – I personally believe $3.90 is highly… pic.twitter.com/Y0aVFmC2SU

— Kevin (@Kev_Capital_TA) November 9, 2024

Charles Hoskinson, the founder of IOG, the entity behind Cardano, has returned from his recent absence on X with a notable announcement regarding his role in the Trump administration.

The native token of the Cardano ecosystem skyrocketed immediately, charting gains exceeding 30% daily. ADA currently sits at a multi-month peak of almost $0.6.

Cardano just gained back 6 months of losses in 5 days.

Crypto is a game of patience. pic.twitter.com/l1B1lUYbmU

— Dan Gambardello (@cryptorecruitr) November 10, 2024

Hoskinson had taken a break from X in recent weeks but published his first 40-minute video hours ago. Perhaps the most notable piece of information that came out of it involves the upcoming new administration of the president-elect, Donald Trump.

The co-founder of Ethereum said he will spend a lot of time in 2025 working with the US policymakers to establish a more comprehensive and perhaps favorable regulatory framework for the digital asset industry.

“The crypto policy should be written by the American people, by the American crypto industry, and by well-meaning lawmakers who are willing to take the time to listen.”

To be more effective, Hoskinson said IOG will make some internal changes that will include moving personnel around so that they can have an office dedicated to helping establish the crypto legislation.

Cardano’s native token reacted immediately to the news, which spread quickly on X. ADA traded at $0.44 earlier on Sunday but soared in minutes to nearly $0.6. Despite retracing slightly since then, ADA is still over 30% up on a daily scale and 70% higher compared to the same time last week.