Bitcoin's $80K Breakout Could Send Dogecoin Price Soaring

Bitcoin's recent rally has been fueling momentum for Dogecoin, and analysts believe that if Bitcoin breaks through the $80,000 level, Dogecoin could climb towards $0.10. The meme coin's price rose by 5% over the last 24 hours to around $0.083, with Bitcoin touching a high of $79,200 before falling back to around $77,500.

The rally has been driven by institutional demand, with spot Bitcoin exchange-traded funds (ETFs) seeing three straight sessions of inflows, totaling over $1 billion. BlackRock's IBIT led the latest session with $285 million, bringing in a total of $517 million. Dogecoin ETFs saw $654,420 in inflows, bringing total inflows to $12.29 million.

According to analysts, if Bitcoin breaks above $80,000 and maintains it as support, Dogecoin's price could reach between $0.09 and $0.093. However, this would require a significant increase of 18% from the current price of $0.085. A close above $0.10 daily might leave space to push towards $0.11 and $0.12.