Bitcoin hits new all-time high, DOGE surges 27% in the name of the Senate Banking Committee
With Donald Trump leading in the US election, Bitcoin has reached a new all-time high, hitting $75,000 before the deadline. The top ten cryptocurrencies by market value have also seen significant gains, especially Dogecoin, which is highly related to Elon Musk. With the endorsement of the Government Efficiency Commission, DOGE has surged by 27% in the past 24 hours.
Trump leads in the US election, Bitcoin hits a new all-time high!
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Bitcoin Breaks All-Time High
Bitcoin surged from 69K this morning, finally breaking the March high of $73,777 this year, reaching as high as $75,000 at the time of writing.
Solana Spot ETF Probability Increases, SOL Surges 14%
Trump's friendly stance towards cryptocurrencies, and the potential relaxation of regulations, led SOL to surge by 14%. The U.S. Securities and Exchange Commission (SEC) has successively approved Bitcoin and Ethereum spot ETFs this year, with speculation that the next one could be a Solana spot ETF. Asset management companies such as VanEck, 21Shares, and Canary Capital have all submitted applications for a Solana spot ETF.
SOL has surpassed BNB to become the third largest cryptocurrency by market capitalization.
DOGE Rises 27% in the Name of the Government Efficiency Committee
This time, the outspoken U.S. business magnate Elon Musk, who openly supports Trump, had agreed to lead the newly established Department of Government Efficiency, abbreviated as DOGE, which happens to share the same name as the Dogecoin. Musk, who has long used Dogecoin as a meme, often posts tweets that trigger significant increases in Dogecoin's value.
DOGE did not miss out on this wave of momentum. With a 24-hour increase of 27%, it ranks as the top ten largest cryptocurrencies by market capitalization and has risen to fifth place in the rankings.
Trump to establish the Department of Government Efficiency led by Musk
Similarly, Shiba Inu coin (SHIB), a member of the dog family, also rose by 11%, showing that when one person gains recognition, even dogs and chickens can ascend to the heavens.