The post Why Bitcoin’s Surge to $93,000 Pushed Altcoins Like Shiba Inu, Toncoin, and PlutoChain Into Higher Gear appeared on BitcoinEthereumNews.com.

Bitcoin has captured everyone’s attention once again with its new all-time high of $93,000. This comes after a combination of factors, including the re-election of Donald Trump, who promised to push for crypto-friendly policies, and the launch of spot Bitcoin ETFs earlier this year.  As Bitcoin climbs, other cryptocurrencies like Shiba Inu (SHIB), Toncoin (TON) and PlutoChain ($PLUTO) are also gaining momentum.  Let’s look into it. Could Bitcoin’s Surge Push Shiba Inu, Toncoin, and PlutoChain Higher? Analysts are optimistic about Bitcoin’s trajectory.  Matt Hougan, CIO at Bitwise, suggests that Bitcoin could reach $100,000 by the end of the year and potentially $200,000 by 2025. He cites increased institutional adoption and favorable regulatory developments as key drivers. Some other experts advise caution though. In its Telegram Broadcast, analysts from QCP Capital have noted a “state of euphoria” in the market, with elevated leverage levels reflected in Bitcoin futures.  Historically, these signs have often come before market downturns. While the outlook is still positive, investors are advised to stay alert. Nevertheless, Bitcoin always leaves a ripple effect and its recent unprecedented rise has influenced the broader crypto market as well.   Shiba INU (SHIB) is already seeing the impact – it increased by over 80% in the past week. This rally has also been skyrocketed by whale activity and accelerated burn rates.  As of November 18, 2024, Shiba Inu (SHIB) is trading at $0.00002474, according to CoinGecko.  It’s now ranked in the top 10 cryptocurrencies by market cap, and it’s even surpassed both Tron (TRX) and Toncoin (TON).  Many are optimistic about SHIB’s trajectory. Some predict it could follow XRP’s path and potentially exceed the $1 mark in 2024. Toncoin (TON) isn’t far behind. Earlier this year, it moved into the top 10, surpassing Cardano and even Shiba Inu for a time.TON has…

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Filed under: News - @ November 20, 2024 5:27 am