DOGE, APE Prices Surge; BTC Approaches $70K: Oct 21 Recap

TL;DR

• Dogecoin (DOGE) has experienced a significant rise in recent days, reaching its peak price in 18 months.
• Bitcoin (BTC) hit a three-month high close to $69,500, with forecasts indicating potential further increases.
• ApeCoin (APE) soared by more than 100% within a week due to the launch of a major project.

DOGE’s Remarkable Performance

The largest meme coin by market capitalization made headlines towards the end of last week. At that time, it recorded an almost 10% increase in daily price following another mention from Elon Musk. The CEO of Tesla spoke in front of an audience in Pennsylvania, showing his endorsement for the US presidential candidate Donald Trump.

When asked about potentially heading a new division (titled the Department of Government Efficiency) in a future Trump administration (if the Republican party wins the elections), Musk responded with, “Yeah, DOGE.”

Despite some fluctuations over the days that followed, Dogecoin (DOGE) maintained its bullish outlook. It is currently trading at around $0.15, marking an 18-month high.

Numerous industry observers noticed the rally, anticipating further gains in the coming days. One X user, Mags, for example, believes DOGE is set to go “parabolic,” eyeing a target of approximately $1.17. Others are even more hopeful, with Bark predicting a price surge to a new all-time high of $4.20.

What’s the Status of BTC?

The leading cryptocurrency has also shown a strong performance this past week. Just a few hours ago, its price surged to an almost three-month high of nearly $69,500. Currently, it hovers around $69K, representing an 8% weekly increase.

The crypto community on X is bustling with users speculating that BTC could exceed the critical level of $70,000 and possibly reach a new ATH shortly.

Captain Faibik set a mid-term 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, this development could lead to a substantial surge to as high as $120,000 in the coming months.

APE Takes Center Stage

Among the top 100 cryptocurrencies, the standout performer this week is undoubtedly ApeCoin (APE). The price of this meme coin has climbed more than 100% over the week, primarily due to a significant event.

As CryptoPotato reported, the team behind the project launched the ApeChain bridge, which allows investors to earn yields on assets such as APE, ETH, and various stablecoins.

APE’s value surged to $1.66 (according to CoinGecko’s data) on October 20, marking its highest point since April of this year. It slightly dipped in the following hours and is now trading just under $1.50.