Bitcoin Jumps Past $65K, Shiba Inu and Dogecoin Soar by 25% Daily (Market Watch)


Bitcoin had a quiet weekend in which its price stood primarily around the $62,000 level, but the bulls went on the offensive once again as Monday came and pushed the asset to a new multi-year peak of over $65,000.

Dogecoin and Shiba Inu have soared as well, but their meme coin rival Pepe has outperformed the rest of the larger-cap alts with a massive daily surge.

BTC Soars to $65K

Last Monday began on a similar note as this one when Bitcoin skyrocketed from around $51,000 to $55,000 and even further during the late US trading hours. Tuesday saw even more gains, as did Wednesday. BTC’s rally culminated in a price surge to $64,000, which became its highest price tag since late 2021.

Despite a brief retracement during the week, Bitcoin still closed February with the biggest monthly gain in its history. The next few days, though, including the weekend, were a lot less volatile, and BTC remained stuck at around $62,000.

However, the bulls went back at it again once Monday arrived. In a matter of hours earlier today, they pushed the cryptocurrency to a new multi-year high of over $65,000. Thus, BTC came just $4,000 away from its 2021 ATH of $69,000.

As of now, the asset stands inches above that line again, with its market cap nearing $1.3 trillion. Its dominance over the alts has increased by 0.5% in a day and is now above 50% on CoinGecko.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SHIB, DOGE, PEPE on the Rise Again

The past several days have been dominated by meme coins, and this continues to be the case now as well. Pepe has stolen the show once more, with another 65% surge. In fact, the meme coin has entered the top 50 largest cryptocurrencies and tapped a new all-time high earlier today.

BONK follows suit with a 50% increase that has pushed its price to $0.000035. The two largest reps of this cohort of digital assets – Dogecoin and Shiba Inu – have gained 25% and 30%, respectively. As a result, SHIB has come closer to possibly overcoming DOGE as the largest meme coin.

Cardano and Polkadot have also charted impressive gains of around 8-10% overnight. The rest of the larger-cap alts are also in the green but in a more modest fashion.

The total crypto market cap has added over $100 billion overnight to $2.550 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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