The crypto market has shown a bullish trend over the past week, continuing this trajectory today. The strong performance of meme coins SHIB and DOGE significantly contributed to the overall market increase.
Meme Coin Super Cycle Anticipated
Experts believe that meme coins will have a significant impact on the market. While the prices of SHIB and DOGE have risen considerably over the past week, the total crypto market value increased by approximately 1.3%, reaching $2.33 trillion.
Murad Mahmudov stated, “The meme coin super cycle explains the highly favorable market conditions for the growth of meme-focused cryptocurrencies.”
According to a report from BDC Consulting, there is a high correlation of 0.87 between the movements of the meme coin market and Bitcoin 
$91,734. This indicates that as Bitcoin rises, meme coins can quickly gain value in parallel.
Could Bitcoin’s Rise Impact MicroStrategy’s Stock Prices?
Benchmark analyst Mark Palmer is optimistic that MicroStrategy’s stock price could rise further in the near term. Palmer set a target price of $245 per share, indicating significant upside potential from the current price of $206.
Mark Palmer noted, “MicroStrategy’s ongoing Bitcoin acquisition strategy strengthens the company’s market position when Bitcoin prices rise.”
MicroStrategy’s stocks are trading at a 2.3x premium compared to the net asset value of its Bitcoin portfolio. As of September, the company holds over 250,000 BTC, with these assets valued at approximately $17.3 billion.
Election and Crypto Voter Block Among Factors for Market Growth
The use of cryptocurrencies on the Polymarket platform during the U.S. presidential elections has drawn attention. A user named “Fredi9999” invested over $20 million in pro-Trump bets.
As election day approaches, concerns about potential manipulation in decentralized prediction markets have increased. According to a new survey by Digital Room, 26 million voters in the U.S. are considering voting to support crypto-friendly policies.
Digital Room reported, “There is a strong consensus that the crypto industry should be a moderate priority for the new president and Congress.”
16% of surveyed voters rated cryptocurrencies as “extremely” or “very” important when voting, and voters from both parties indicated a higher likelihood of voting for candidates who support crypto-friendly policies.
Ultimately, the increased presence of cryptocurrencies in the political arena is bolstering investor confidence, supporting upward movements in the market.
