Today, the cryptocurrency market has surged strongly, especially in the context of the U.S. presidential election. Bitcoin (BTC) and other major altcoins have seen significant price increases.

Dogecoin (DOGE) has become the leader of the surge, attracting investor attention as everyone speculates on the reasons for its rise. Meanwhile, the price of GOAT surged nearly 50%, further igniting market enthusiasm.

Bitcoin (BTC) broke through $75,000 on Wednesday, while Ethereum (ETH), Solana (SOL), and XRP also rose between 6%-16% during the session. Notably, Dogecoin (DOGE) recently broke through $0.2, sparking a wave of interest in the meme coin sector.

In the past 24 hours, the total trading volume of the cryptocurrency market skyrocketed by 8%, reaching $2.45 trillion, while the overall market trading volume also grew by 51.42%, reaching $126.04 billion.

Next are some top cryptocurrencies ranked by market capitalization and their price trends today (November 6).

Cryptocurrency market and the U.S. election: strong rises for Bitcoin and altcoins

The approaching U.S. presidential election seems to have brought considerable momentum to the crypto market. Recent data shows that as Trump's chances of winning the election increase, the sentiment supporting cryptocurrencies is also warming. In particular, Bitcoin (BTC) hit a new high driven by the election atmosphere, briefly breaking through $74,000, while some altcoins also saw significant increases.

The cryptocurrency market has seen significant growth driven by Dogecoin (DOGE), supported by Trump and Musk. So, how is the cryptocurrency market today? Let's take a look.

Bitcoin today's price

In the past 24 hours, Bitcoin's price has risen nearly 9%, currently trading at $74,366. Its low and high are $68,147 and $75,011, respectively. Bitcoin's market cap has reached $1.47 trillion, with its market dominance increasing by 0.24% to 59.60%.

It is worth noting that despite a $72.67 million outflow from the spot Bitcoin ETF (excluding BlackRock data) on November 5, the upward trend in Bitcoin's price continues.

Ethereum today's price

Ethereum (ETH) also performed well, rising nearly 7% in the past 24 hours, with a current trading price of $2,579. The low and high for ETH are $2,402 and $2,631, respectively, with a market cap of $310.25 billion.

However, the fund flow for the spot Ethereum ETF is zero (excluding BlackRock's ETHA), which has also made the market very interested and speculative about Ethereum's price trends.

Solana today's price

Solana (SOL) rose sharply by 16% today, currently trading around $184, with a low of $159.38 and a high of $185, and a market cap of $87.09 billion. However, some analysts point out that the whale sell-off of Solana may indicate changes in the market ahead, and investors should remain cautious.

XRP today's price

XRP rose approximately 6% in the past 24 hours, currently priced at $0.5312, with a low of $0.5048 and a high of $0.5359, and a market cap of $30.22 billion. Meanwhile, XRP whales transferred $814 million worth of tokens, which has sparked market discussions about the future price trends of XRP.

Performance of the meme coin sector

Dogecoin (DOGE) continues to lead the meme coin market, rising nearly 27%, currently priced at $0.2074. Meanwhile, Shiba Inu (SHIB) rose by nearly 11%, reaching $0.00001928.

Other meme coins like PEPE, WIF, and BONK have also seen significant increases in the past day, reaching between 15% to 20%.

Today's biggest gainers in the cryptocurrency market:

Goat Maximus (GOAT)
GOAT saw the highest price increase today, surging nearly 50% during the session, currently trading at $0.7005. Today's low is $0.469, and the high reached $0.7229.

SUI
SUI has risen by 21% in the past 24 hours, currently priced at $2.29. The low was $1.88 and the high reached $2.29.

Hat Dog (WIF)
WIF also performed well today, with a gain of 20%, currently trading at $2.40. The day's low and high are $2.01 and $2.42, respectively.

Today's biggest drop in the cryptocurrency market:

Tron (TRX)
Tron (TRX) slightly dropped by 0.21% in the past 24 hours, currently trading at $0.1621. The low is $0.1599 and the high is $0.1627.

Monero (XMR)
Monero (XMR) also slightly dropped by 0.2%, currently priced at $159, with a low of $157.21 and a high of $162.84.

Additionally, the prices of Bitcoin (BTC) and Ethereum (ETH) continue to rise, increasing by 0.5%-1% in the past hour. This upward trend has fueled market enthusiasm for cryptocurrencies.