Price Rallies From DOGE and APE, Bitcoin (BTC) Neared $70K, and More: Bits Recap Oct 21
2024-10-21

TL;DR
DOGE’s Impressive Performance
The biggest meme coin in terms of market capitalization made the headlines toward the end of last week. Back then, itregistereda daily price increase of almost 10% following yet another interaction from Elon Musk. Tesla’s CEO was speaking in front of a crowd in Pennsylvania, showing support for the US presidential candidate Donald Trump.
Asked if he would lead a new potential division (called Department of Government Efficiency) in an eventual Trump administration (should the Republican win the elections), Musk simply answered, “Yeah, DOGE.”
While Dogecoin (DOGE) experienced some volatility in the following days, it remained in a bullish mode. It currently trades at almost $0.15, representing an 18-month high.
Multiple industry participants spotted the rally, envisioning further gains in the near future. X user Mags, for instance, believes DOGE is about to go “parabolic,” setting a target of approximately $1.17. Others were even more optimistic, with Bark predicting a price explosion to a new all-time high of $4.20.How’s BTC Doing?
The primary cryptocurrency has performed well in the past week, as well. Several hours ago, its price jumped to a nearly three-month high of almost $69,500. Currently, it hovers around $69K, representing an 8% increase on a weekly scale.
Crypto X is rammed with users who think BTC could surpass the psychological level of $70,000 and even rise to a new ATH soon.
Captain Faibik set a midterm target of $88,000, while Mikybull Crypto noted the emergence of a bullish cross for the first time since October 2023. According to the latter, the development might be followed by a massive pump to as high as $120,000 in the following months.APE Is the Big Star
The best-performing cryptocurrency (from the top 100 club) in the past week is undoubtedly ApeCoin (APE). The price of the meme coin is up over 100% for that period, mainly driven by a major achievement.
As CryptoPotato reported, the team behind the project launched the ApeChain bridge, enabling investors to earn yields on assets such as APE, ETH, and some stablecoins.
APE’s valuation exploded to $1.66 (per CoinGecko’s data) on October 20, the highest mark since April this year. It slightly retraced in the following hours and is currently trading at just south of $1.50.