With political changes, regulatory optimism, and a continued surge in institutional interest, these three Bits have seen tremendous growth over the past year.
In 2024, the Bit market experienced a significant recovery, rising from a market capitalization of $1.8 trillion in January to $3.9 trillion in mid-December. This surge was largely due to Bitcoin's 160% increase this year.
This rapid recovery has also created an industry-wide uptrend – especially for some altcoins – that has breathed new life into projects that had been stagnant or underperforming, at least according to some observers.
Here are some of the prominent Bits that have made a comeback in 2024 and analysts believe that they could continue to have impressive performances in 2025.
Doge rules again
As a typical Meme token, $DOGE made a strong comeback in 2024, with the price increasing by more than 350% from a low of $0.081 in January to $0.466. This rally was driven by a combination of political, technical, and cultural factors, bringing Doge back to the center of investor interest.
The outcome of the 2024 US presidential election looks set to play a pivotal role in reversing the fate of the Meme coin, with the Bit-friendly Trump administration signaling a major shift in regulatory attitudes.
Trump's support for blockchain, coupled with Elon Musk's appointment as joint chairman of the newly created government agency "Department of Government Efficiency" ($DOGE ), has attracted great media attention and created optimism among investors.
Musk's continued support for Doge is also a strong sentiment booster, while speculation about Musk integrating Doge payments on the X platform has also got traders and analysts excited about the possibility of further price increases.
Technical analysis has confirmed the uptrend, with key indicators like the “Gold Crossover” (two long-term moving averages crossing) suggesting it has upside potential.
Anonymous analyst Mikybull compared the current move to Doge's previous bull cycles, in which the coin rose nearly 7,000%. Similarly, prominent Bit trader Javon Marks echoed the sentiment, predicting that if the trend continues, Doge could reach $3 or higher.
