Solana and Dogecoin Hit 3-Year Highs: What’s Next for These Popular Altcoins?

Betty Ligmart
By Betty Ligmart Add a Comment
3 Min Read

Solana (SOL) and Dogecoin (DOGE) have reached significant milestones, fueled by the broader crypto rally that began as Bitcoin hit record highs. This surge was driven by Donald Trump’s election win and the Federal Reserve’s interest rate cuts. In a remarkable turn, Dogecoin surpassed Ripple’s XRP in market value, further intensifying the excitement around these altcoins.

Solana and Dogecoin Hit 3-Year Highs: What’s Next for These Popular Altcoins? = The Bit Journal

Solana Hits $212 for the First Time Since 2021

SOL climbed above $212, marking its highest point since the 2021 crypto bull market. The altcoin recorded a weekly gain of 34%, outperforming Bitcoin’s 18% rise and the broader market index, which increased by 27%. Solana is now just 20% away from its all-time high of $260, and with a market cap exceeding $100 billion, it joins the ranks of only three other major cryptocurrencies with valuations over $100 billion—Bitcoin, Ethereum (ETH), and stablecoin Tether (USDT).Solana and Dogecoin Hit 3-Year Highs: What’s Next for These Popular Altcoins? = The Bit Journal

This latest rally has reignited discussions of a “flippening,” with some speculating that SOL’s market cap could one day surpass Ethereum’s current valuation of around $389 billion. Solana’s resurgence is especially noteworthy after the collapse of FTX and Alameda Research, two major backers of the platform, in 2022. According to Julien Bittel from Global Macro Investor, “Solana’s milestone signifies deeper implications for the entire crypto market.”

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Dogecoin’s Meteoric Rise

Dogecoin also experienced a remarkable price increase, currently trading at $0.28 after an 88% surge over the past week. This surge has elevated Dogecoin’s market cap beyond XRP’s, positioning it as one of the top-performing assets of the week. DOGE now trades at levels not seen since December 2021, with its market cap exceeding $42 billion, leaving XRP behind with $37 billion.Solana and Dogecoin Hit 3-Year Highs: What’s Next for These Popular Altcoins? = The Bit Journal

On November 6, Dogecoin briefly surpassed XRP in market cap after Trump’s election win fueled a double-digit rise, propelling DOGE up 25% in a single session to a monthly high of $0.211. This rally pushed DOGE into the seventh spot by market cap, overtaking XRP momentarily. While some profit-taking caused DOGE to slip back, renewed demand has once again propelled the meme coin ahead of XRP.

The recent performance of Solana and Dogecoin highlights a continued surge in the altcoin sector, with investors eyeing potential for further gains amid market momentum.

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Disclaimer

The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.

You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.

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Financial Writer Hello, my name is Betty, and I am a content editor. My passion lies in creating high-quality content that informs, engages, and inspires my readers.As a finance journalist, I cover a wide range of topics, including cryptocurrencies, which I believe have the potential to disrupt traditional financial systems. I strive to deliver accurate and insightful reporting that helps my readers navigate the complex world of finance.
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