3 Altcoins Recording Double-Digit Gains as Bitcoin Price Hits $82K

The cryptocurrency market is thrilled, with a global market capitalization increasing to $2.79 trillion. Bitcoin price has recently hit a new all-high, crossing the $82,000 mark. This has sparked optimism and enthusiasm among investors. This bullish sentiment hasn’t stopped at Bitcoin only- two altcoins Dogecoin (DOGE) and Shiba Inu (SHIB), have surged in value by double digits. Additionally, Minotaurus (MTAUR) is a new entrant in the crypto sector, attracting interest, for its potential in the growing blockchain gaming sector.

Dogecoin (DOGE): A Familiar Meme Coin on the Rise

Dogecoin (DOGE), the leading meme cryptocurrency by market capitalization, has been experiencing a significant surge, with its price close to $0.30—its peak level since the 2021 market uptrend. The increase is attributed to several factors, such as revived investor interest sparked by the recent US election and Dogecoin’s close connection to Tesla CEO, Elon Musk.

After Donald Trump’s success in the 2024 US presidential elections, the crypto market has experienced a surge, with DOGE being one of the major gainers. Musk, a vocal advocate for Dogecoin, has kept driving its price up through his significant influence, particularly after referencing his role in a possible new government agency, the Department of Government Efficiency (D.O.G.E), during the election campaign.

Numerous analysts have suggested ambitious price targets—some forecasting up to $3.90 per DOGE. As of the current writing, the altcoin is  trading at $0.2883, an increase of approximately 17% and 85.13%, over the past day and week, respectively.

As Bitcoin spikes to $82,000 and a general sense of optimism pervades the market, Dogecoin price performance distinctly reflects the current crypto mood. With Musk’s impact and rising market demand driving the coin, its upward trajectory is expected to persist.

Shiba Inu (SHIB): The “Doge Killer” Following BTC’s Pattern

Shiba Inu (SHIB), a meme coin based on Ethereum, has likewise been experiencing significant growth. In the last week, SHIB has jumped by 52%, indicating a notable rise in its value. This surge has been additionally driven by a significant increase in its burn rate, as more than 463 million SHIB tokens were eliminated in just one day.

This 1837% rise in the burn rate is a key factor contributing to the recent price increase, as investors expect the token’s scarcity to grow, possibly enhancing its worth.

The existing burn mechanism is a component of Shiba Inu’s long-term plan to decrease its circulating supply, ultimately enhancing its price if demand persists in increasing. Investors are hopeful that SHIB might achieve even greater returns, with some predicting a 300% increase in price soon.

SHIB’s surge occurs in tandem with Bitcoin’s notable gains, with the price recorded at $0.00002554 as of this moment, an increase of 10%  and 51% over the past day and week, respectively. The meme coin has gained from the overall positive sentiment in the crypto market and the increasing interest in the Shiba Inu ecosystem, which is developing its decentralized exchange (ShibaSwap) and other projects.

Minotaurus (MTAUR): A New Altcoin to Watch in Blockchain Gaming

As Dogecoin and Shiba Inu attract attention, a new project, Minotaurus (MTAUR), is beginning to create a stir in the blockchain gaming industry. Even though it is still in the presale stage, the altcoin has attracted interest because of its distinctive method of merging casual gaming with blockchain technology. The presale has exceeded the 100K USDT mark, generating increasing excitement about the project, and rightly so.

The MTAUR token, which is presently valued at $0.0000598, provides players with various in-game advantages, including avatar personalization, access to exclusive areas, and obtaining power-ups. What distinguishes Minotaurus from other gaming tokens is its emphasis on long-term stability, featuring a tokenomics structure that encompasses vesting and referral rewards. In reality, 10% of the tokens are designated for community involvement, making it a very engaging project.

Minotaurus is capitalizing on the $15 billion casual gaming industry, which is undergoing substantial expansion, attracting interest from both gamers and cryptocurrency fans. Considering the enthusiasm at this initial stage and the project’s ability to leverage the rapidly growing blockchain gaming sector, Minotaurus may emerge as one of the best altcoins to buy, aiming to broaden its portfolios beyond conventional meme coins.

A Dynamic Market with Huge Potential

With Bitcoin reaching new peaks, altcoins such as Dogecoin and Shiba Inu are witnessing substantial increases, capturing investor attention due to favorable market conditions and successful burn approaches. At the same time, Minotaurus is rising as a potential opportunity in blockchain gaming, supported by a fruitful presale and captivating gameplay.  These three projects are set to attract interest in the changing cryptocurrency environment.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.