The crypto market has been showing an upward trend for the last week and continues this trend today. Meme coins contributed significantly to the overall market increase with the strong performance of SHIB and DOGE.
Meme Coin Super Cycle Expected
Analysts think that meme coins will have a significant impact on the market. The prices of SHIB and DOGE increased significantly last week, with the total crypto market cap increasing by approximately 1.3% to $2.33 trillion.
“The meme coin supercycle describes extremely favorable market conditions for the growth of meme-focused cryptocurrencies,” said Murad Mahmudov.
According to BDC Consulting’s report, the meme coin market and Bitcoin 
$68,381There is a high correlation of 0.87% between the movements of . This shows that meme coins can gain value quickly in parallel with the rise of Bitcoin.
Could Bitcoin’s Rise Affect MicroStrategy Stock?
Benchmark analyst Mark Palmer is optimistic that MicroStrategy’s stock price can move higher in the near term. Palmer stated that he set a target price of $245 per share. The current price of $206 shows significant upside potential.
“MicroStrategy’s continuous Bitcoin buying strategy strengthens the company’s market position when Bitcoin prices rise,” said Mark Palmer.
Shares are trading at a 2.3x premium to the net asset value of MicroStrategy’s Bitcoin portfolio. The company holds over 250,000 BTC in cryptocurrencies as of September, and these assets are worth approximately $17.3 billion.
Election and Crypto Voter Bloc Are Among the Reasons for the Crypto Market Rise
The use of cryptocurrencies on the Polymarket platform attracted attention in the US presidential elections. A user named “Fredi9999” invested more than $20 million in pro-Trump bets.
As election day approaches, concerns about possible manipulation in decentralized prediction markets have increased. According to a new survey from Digital Chamber, 26 million voters in the US are considering voting in support of crypto-friendly policies.
“There is strong consensus that the crypto industry should be a moderate priority for the new president and Congress,” Digital Chamber reported.
While 16% of voters surveyed rated cryptocurrencies as “extremely” or “very” important when voting, voters from both parties said they were more likely to vote for candidates who support crypto-friendly policies.
Finally, the increased involvement of cryptocurrencies in the political arena supports the upward movement of the market by increasing investor confidence.
This rise in the crypto market is shaped by the strong performance of meme coins, trust in Bitcoin and the influence of political factors. For investors, these dynamics present strategic opportunities in the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
