- Bitcoin Dogs rose 30% in two weeks before paring gains.
- Bitcoin price is back above $68,000 after last week’s slip halted bulls’ momentum.
- With BTC regaining control above $68k, could this spark Bitcoin Dogs price?
New upside momentum has pushed Bitcoin (BTC) above $68,500 following last week’s sharp decline that saw bears reject movement above $69,000.
As BTC price refreshed recent gains at the time of writing, most altcoins were also positive. This includes many coins to recently see huge gains amid meme coin resurgence. The price of Bitcoin Dogs (0DOG), which gained more than 30% in two weeks, hovered at a key level, notably with sellers still in action with a 5% dip in 24 hours.
But can a surging Bitcoin spark new gains for 0DOG?
Analysts see Bitcoin bull cycle intact
Despite recent struggles below $70k, Bitcoin price remains largely on track for a major bull cycle.
Analysts have pointed to BTC’s resilience above support levels near $65k as indicator a shakeout of weak hands is nearly done. With “Uptober” having played its role for bulls, a series of economic releases this week and the US election next week stand out as major factors to consider.
The continued investment in spot Bitcoin ETFs, and potential adoption of BTC strategy by Microsoft could add to this momentum. On spot ETFs, US BTC funds saw net inflows of over $998 million last week, with the market on another positive streak.
Crypto analyst Rekt Capital says BTC’s “more bullish outcome” is a reality amid the weekly close.
Bitcoin has Weekly Closed above ~$67900
The more bullish outcome has become a reality$BTC #Crypto #Bitcoin https://t.co/pn3riKab7U pic.twitter.com/Z9zICRSdMg
— Rekt Capital (@rektcapital) October 28, 2024
BTC gains and Bitcoin Dogs price
If Bitcoin breaks above $70k and manages a new all-time high amid positive catalysts, it’s likely the next few months could see it target $100k.
The benchmark asset’s ecosystem being bullish would mean a whole lot of top tokens could go parabolic. BRC-20 tokens for instance are up 6% to $1.55 billion as Bitcoin nudges higher.
Bitcoin Dogs, a cryptocurrency project for GameFi and NFTs on Bitcoin, has seen its native token rally higher in recent weeks. However, 0DOG has also dipped in tandem with BTC, with recent price levels coming amid a profit taking bout that follows a 30% upside in two weeks.
Currently, Bitcoin Dogs is down 5% as price hovers near $0.009. However, amid a major spike for Bitcoin and meme coins last week, 0DOG rose more than 100% as bulls jumped from near $0.0066 to over $0.013 between Oct. 21 and Oct. 22.
What could catalyze gains for 0DOG?
While 0DOG’s gains mirrored the broader market, there’s another catalyst likely at play. Having made history as the world’s first BRC-20 ICO on Bitcoin, the Bitcoin Dogs project is poised for one of its biggest milestones.
In a recent update, the project posted a teaser of its upcoming game. Bitcoin Dogs has an AMA scheduled for Tuesday, Oct. 29 that will feature game and NFTs release.
All this is part of a massive news release and key to the roadmap. The project wants to deliver a play-to-earn game with an in-game token BARK and the native utility token 0DOG. 0DOG holders have exclusive access to the game and can earn more from a P2E experience leveraging the Bitcoin network.
Excitement for the game’s upcoming launch, potential exchange listings and a rally for BTC suggest ODOG price could explode.
Find more about Bitcoin Dogs on the project’s website.
The post Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k? appeared first on CoinJournal.
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