Bitcoin (BTC) Rockets to $108,000: Will XRP and DOGE Follow?

Bitcoin Sets New All-Time High, Altcoins Struggle

Cover image via U.Today

Amidst a volatile trading session, the flagship cryptocurrency Bitcoin (BTC) has achieved a new all-time high. According to Binance, its value surged over 2% from the opening price, peaking at $108,353. While the price has since retreated, analysts believe Bitcoin's recent performance suggests further gains may be on the horizon.

Curiously, the broader crypto market has been experiencing losses while BTC continues to rally. Several altcoins have witnessed double-digit declines throughout the day. However, two altcoins stand out as potential companions to Bitcoin's recent surge.

XRP and Dogecoin: Riding Bitcoin's Wave

Since early November, when Bitcoin traded below $70,000, the prices of XRP and Dogecoin (DOGE) have skyrocketed by 467% and 232%, respectively. Despite their substantial market capitalizations, these altcoins have emerged as market leaders.

Ethereum and Solana: Moderate Gains

In comparison, Ethereum (ETH) and Solana (SOL) have experienced more modest price increases of around 70% over the same period. While these gains are significant, they pale in comparison to the dramatic growth of DOGE and XRP.

Altcoin Potential: A Question for the Market

It remains uncertain whether Dogecoin and XRP will continue to keep pace with Bitcoin's record-breaking highs. However, as Bitcoin's rally potentially stalls, these altcoins are likely to become attractive investment options for market participants.