Bitcoin pulled a surprise recovery to highs of $61,839 on Oct. 28 after dipping as low as $58,100 in the prior day’s trading. Bitcoin’s relief rally comes as Salvadoran President Nayib Bukele announced on Thursday that his government had taken advantage of the Bitcoin price drop and added 420 BTC more to the nation’s stash.
The New York Stock Exchange (NYSE) has continued listing Bitcoin (BTC)-linked exchange-traded funds (ETF), with Volt Equity becoming the latest company to debut such a product on the exchange.
Altcoins moved upward in step with Bitcoin, with a handful of tokens recording significant gains of over 10%. At the time of post, Curve DAO token (CRV, +20.67%), Voyager Token (VGX, +31.75%), Loopring (LRC, +22.24%), Safemoon (SAFEMOON, +29.24%), Fraxshare (FRAX, +42.69%), Alchemy Pay (ACH, +29.98%) were posting significant gains.
Voyager Token (VGX) is the native token of the crypto brokerage, Voyager Digital. VGX price rose as Voyager Digital announced receiving a $75 million investment from trading firm Alameda Research. Voyager Digital and Alameda plan to tap into opportunities in non-fungible tokens (NFT) and crypto derivatives as well as work together with lawmakers on shaping regulation.
Every Dog Has Its Day!
The spotlight has been on Dog coins recently, with Shiba Inu pulling off an impressive 800% rally. The attention subsequently shifted to Dogecoin (DOGE), which rallied nearly 44% today as SHIB came off record highs of $0.000088. Dogecoin also reclaimed its ranking as the 8th largest cryptocurrency after Shiba Inu briefly surpassed it in market valuation. SHIB ranked 10th largest as of press time.
Notably, Dog-themed tokens, Dogelon Mars (ELON, +28.51%), Samoyedcoin (SAMO, +113.89%), Hoge Finance (HOGE, +86.52%), Kishu Inu (KISHU, +11.02%) have recorded impressive gains.
KISHU INU, another dog-themed token was launched to be a decentralized meme project with true purpose. Kishu has rallied nearly 179% since Oct.26 while marking the fourth day in the green. HOGE Finance describes itself as a community-driven DeFi auto-staking ERC-20 token with a capped and deflationary supply.
Samoyedcoin (SAMO) is Solana’s meme coin, aiming to be community-owned and fun. It was inspired by Dogecoin, hence the choice of the dog breed Samoyed, bringing these two giants together. Speaking on the price increases seen for Dog themed tokens, analysts at Delphi Digital say:
“Dog coins are mooning again, which has historically been a pretty good indication of an overheated market…The first time dog coins went wild was April – May this year, and quickly cratered as crypto markets cooled off. In early September, dog coins were all the rage again and the broader crypto market saw a fairly deep de-leveraging.”
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