Dogecoin Outperforms Major Altcoins, Solana Extends Rally As Bitcoin Edges Past $114K

Dogecoin (DOGE) led gains among major altcoins in early Thursday trading, while Solana (SOL) extended its rally following the Nasdaq debut of Sol Strategies (STKE).

New crypto ETFs from REX and Osprey, including a Dogecoin ETF, cleared the U.S. Securities and Exchange Commission’s 75-day review window and are expected to begin trading by Friday, Bloomberg Intelligence analyst Eric Balchunas told Cointelegraph. “Post-effective means that it’s going to launch, basically,” said Balchunas, referring to the lineup that also includes funds tied to Bitcoin, XRP, Bonk, and Trump-linked tokens.

Dogecoin’s price outperformed altcoins, rising 4.4% in the last 24 hours. Retail sentiment on Stocktwits moved higher within ‘bullish’ territory, accompanied by ‘high’ levels of retail chatter. 

Solana’s price, meanwhile, climbed to an intraday peak of $225.49, its highest level since February, but still 23% below its all-time high of nearly $290 set in January. At the time of writing, it was up 2.3% in the past 24 hours. On Stocktwits, retail sentiment around the token improved within ‘neutral’ territory, while retail chatter ticked up from ‘low’ to ‘normal’ levels.

Shares of Toronto-based Sol Strategies, formerly known as Cypherpunk Holdings, began trading on the Nasdaq Global Select Market under the ticker STKE on Wednesday. The company will keep its listing on the Canadian Securities Exchange, but the U.S. debut expands liquidity and visibility, making it one of the first Solana-linked firms to access U.S. capital markets.

STKE’s stock was up nearly 3% during pre-market trade on Thursday, after a gain of 1.58% during the previous session. Retail sentiment on Stocktwits was in ‘extremely bullish’ territory, but chatter dipped to ‘high’ from ‘extremely high’ levels. 

Altcoins broadly outperformed Bitcoin (BTC) in early morning trade. Tron (TRX) was up 2.6% in the last 24 hours, Ethereum (ETH) gained 2.2%, Ripple’s native token XRP (XRP) was up 1.7% and Cardano (ADA) rose 1.1%. 

Meanwhile, Bitcoin’s price lagged behind other major tokens, gaining only 1.5% over the past 24 hours, but it finally broke above $114,000. On Stocktwits, retail sentiment around Bitcoin improved but remained in ‘bearish’ territory over the past day. 

The overall cryptocurrency market rose 1.7% over the last 24 hours, edging past the $4 trillion mark as investors eyed the consumer price index (CPI) report, due later on Thursday. Crypto futures bets saw around $258 million in liquidations over the past 24 hours, according to Coinglass data. Long liquidations totaled around $101 million, and short bets amounted to $157 million. 

Digital asset treasury (DAT) equities also showed cautious optimism, edging higher in pre-market trade. The largest corporate holder of Bitcoin, Michael Saylor-backed Strategy (MSTR), rose around 0.55% and the largest publicly traded company with Ethereum on its balance sheet, Bitmine Immersive Technologies (BMNR), gained 4.8%. 

Bitcoin miners like Marathon Holdings (MARA) and Riot Platforms (RIOT) also moved higher. MARA’s stock gained 0.69%, while RIOT’s stock rose 0.55%. Crypto exchange Coinbase (COIN) was up 0.84%.

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