Dogecoin ($DOGE) led the rally among major cryptocurrencies as Bitcoin ($BTC) rose to $114,200. Analysts speculate that Bitcoin may be undervalued in comparison to U.S. M2 growth, indicating possible future price increases.
- Bitcoin ($BTC): Bitcoin is a decentralized digital currency, known for being the first cryptocurrency and widely considered a store of value in the digital asset space.
- Dogecoin ($DOGE): Dogecoin is a cryptocurrency that started as a meme but gained popularity due to its community and low transaction costs.
- M2 Money Supply: M2 is a measure of the money supply that includes cash, checking deposits, and easily convertible near money, often used to gauge inflation or economic trends.