Leading meme coins are rallying. Dogecoin (DOGE) is up 3.68% while Shiba Inu (SHIB) added 3.52%. Meanwhile, the upcoming meme coin, Sponge, is up 50% in the last month.

DOGE and SHIB rallying

Several positive developments in the crypto market have contributed to its recovery from last week’s sell-off.

These moves, primarily related to Bitcoin, are expected to drive broader market bullish sentiment and support altcoin growth.

The launch of Bitcoin spot ETF advertisements by BlackRock and VanEck on Google, a first in three years, signaled a shift in investor sentiment.

Additionally, reports suggest that $8.5 trillion asset manager Charles Schwab is preparing to enter the Bitcoin ETF market.

These developments have helped stabilize Bitcoin’s price within its current trading range.

Market analyst Michael van de Poppe believes that this consolidation provides an opportunity for altcoins to outperform Bitcoin.

He anticipates a potential test of the $48-50K price range for Bitcoin in the run-up to the next halving event, during which altcoins are expected to also rally.

Doge

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