Daily Crypto Signals: Bitcoin Approaches $100K, Dogecoin Jumps 21%
Early 2025 shows great momentum for major cryptocurrencies; Bitcoin approaches the $100,000 mark while Dogecoin and other altcoins show notable increase.
MicroStrategy keeps up its aggressive Bitcoin buying pace, and Ripple predicts more U.S. activity under anticipations of a crypto-friendly Trump government.
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Crypto Market Developments
As MicroStrategy’s Michael Saylor suggests at another significant buy, Bitcoin’s rising trend keeps on. Currently worth at around $43.7 billion, the company—which owns 446,400 Bitcoin—published its trademark SaylorTracker graphic, a move that has always followed significant Bitcoin purchases. MicroStrategy is using a mix of stock and fixed-income instruments to forward its ambitious 21/21 strategy to acquire $42 billion in Bitcoin.
Metaplanet has meanwhile declared intentions to raise its Bitcoin holdings to 10,000 BTC in 2025, a 467% rise from its present 1,762 BTC level. The Japan-based venture capital company notes anticipations of a bull run that would drive Bitcoin above $200,000 this year.
Bitcoin’s Momentum on the Rise
With a 4% weekly rise and ongoing institutional interest, Bitcoin BTC/USD is exhibiting great momentum. Though temporary withdrawals of $242.3 million from U.S. spot Bitcoin ETFs on January 2, the market recovered quickly with $908.1 million in inflows the next day. Technical study indicates Bitcoin could consolidate between $95,000 and $110,000 until the end of January, with possibility for more ascent should it above the $100,000 barrier mark.
Ripple Expands US Operations
With CEO Brad Garlinghouse stating that 75% of the company’s vacant positions are now U.S.-based, XRP XRP/USD Ripple Labs is seeing notable expansion in U.S. operations. Attributed mostly to the future Trump administration’s pro-crypto posture, the company has signed more deals and partnerships in the United States following the November 2024 election than in the previous six months.
Dogecoin Top Performer Among Memecoins
Rising 21% during the past week to reach $0.38, Dogecoin DOGE/USD has been a top performer surpassing other main memcoins. The spike corresponds with considerable whale accumulation; on January 3, big holders bought over 1.08 billion DOGE ($414 million). Head of research at Galaxy Digital, Alex Thorn projects DOGE might hit $1 in 2025, therefore maybe bringing its market capitalization to $100 billion.
PENGU Makes Double-Digit Gains
Though NFT sales volume has dropped 52%, the PENGU token has risen 13%. Maintaining a market capitalization of $2.5 billion, PENGU has jumped 250% from its December 17 debut at $0.040. With around 1.1 billion views for its stickers and GIFs in early January, the initiative is still attracting a lot of noteworthy social media interaction.
Top Altcoins to Watch
Several altcoins are showing promising momentum alongside Bitcoin’s strength:
- Solana SOL/USD: Trading at $211.79, facing resistance at the 50-day SMA but maintaining strong support levels
- Sui (SUI): Recently broke above $4.96 resistance, targeting potential moves toward $6.28
- Internet Computer (ICP): Surged above moving averages, indicating a potential trend change with resistance near $13
- Ethena (ENA): Forming a cup-and-handle pattern with potential breakout above $1.30, targeting $2.41
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