Bitcoin spikes above $64k, dogwifhat and Poodlana show strength

Dogwifhat traded to highs of $1.90, rising more than 15% as Bitcoin jumped to above $64,800 amid a cheerful crypto market.

Recently launched Solana meme coin Poodlana also showed strent after its debut on crypto exchange BingX.

Bitcoin surges to $64k, bolstering cryptocurrencies

BTC rose more than 5% in 24 hours to hit highs of $64,828 early Saturday, August 24, 2024.

This meant that the benchmark cryptocurrency reached its highest price level since the broader market crash at the beginning of the month.

Notably, this latest uptick came as sentiment improved following Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium.

After Robert F. Kennedy Jr. announced his support for crypto-friendly US presidential candidate Donald Trump, BTC also shot up.

While Bitcoin remains well below the all-time high of $73k reached in March, analysts are bullish on the digital asset outperforming in the next few months.

A Donald Trump win, interest rate cuts and growing demand for spot Bitcoin ETFs could be catalysts.

On August 23, the Bitcoin Coinbase premium index, a metric that highlights the gap between BTC price on Coinbase Pro and Binance, reached its highest level in over a month. CryptoQuant analyst Julio Merino shared this via a post on X.

Often, analysts use the Coinbase premium measure as an indicator of strong buying from US investors.

If the upward pressure continues, the BTC price could target $70k and potentially pull the rest of the market higher

Bitcoin traded around $64,320 at the time of writing.

Dogwifhat (WIF) targets $2.00

Bitcoin dominates the social chatter as its price soars.

However, TRON’s surge amid the explosive SunPump meme coin market has attracted a lot of attention.

Solana meme coins are the top dog-themed or cat-themed tokens, and dogwifhat, Bonk and Poodlana are among those in the ascendancy as BTC breaks higher.

WIF has recorded a slight breakout to rise from lows of $1.34 on August 19 to test the $1.90 area on August 24.

A breakout above the $2.00 level could push WIF to the supply zone at $3.00 and open up a path for bulls to target more gains.

Poodlana (POODL) lists on MEXC and BingX exchanges

Poodlana stormed to an $8 million presale in 30 days, reaching the milestone on August 16 and immediately listing on Raydium.

Since then, the dog-themed meme coin that blends luxury fashion, meme culture and Asia’s love of the poodle, has been listed on major centralized exchange MEXC, market and trading data platforms CoinGecko and CoinMarketCap.

On August 23, just a week after the Poodlana presale ended, top crypto exchange BingX listed POODL.

Dogwifhat and Poodlana price amid analyst predictions for BTC

WIF, which reached an all-time high of $4.83 in March, could break above $2 and target the ATH levels.

Dogwifhat price at current levels is over 119,000% from the all-time lows of $0.001555 in December 2023.

Meanwhile, POODL may ride its strong traction in the Asian market and the bullish outlook across risk asset classes to explode higher.

Poodlana was changing hands around $0.03 across exchanges, according to data from CoinGecko.

POODL’s trading debut could coincide with a new bull run, and $0.03 may be a great entry point for traders eyeing the 100x run that WIF has recorded since its all-time low.

Interested in buying Poodlana? Learn more about the project here.

The post Bitcoin spikes above $64k, dogwifhat and Poodlana show strength appeared first on Invezz