Solana, Dogecoin Surge as Bitcoin Nears New All-Time High Price

Dogecoin and Solana were soaring Wednesday just as Bitcoin edged towards a new all-time high.

Solana, the sixth-biggest coin by market cap, soared to a price of nearly $204 before dipping down to $198 Wednesday morning New York time. The asset is up by more than 9% over the past day, crypto data provider CoinGecko shows, and Wednesday's peak was the highest price seen for SOL since July 22.

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Meanwhile, O.G. meme coin DOGE was recently trading for a little over $0.24 after jumping by nearly 8% over a 24-hour period. Over a seven-day period, the ninth biggest virtual coin by market cap has risen by over 20%.

But unlike Solana, which hit a new high of $293 in January, Dogecoin has gone years without hitting a fresh peak—and still has to climb 67% before it beats its 2021 all-time high.

The surge in major coins and tokens comes as Bitcoin, the biggest coin by market cap, made a brief jump above the $122,000 mark.

Bitcoin in July set a new high when it traded above $122,838. The leading cryptocurrency has risen modestly over the past day by about 1%, based on the current price of $121,237. But zooming out, Bitcoin has jumped by 6% over the last week.

Ethereum ETFs Smash Daily Record With Over $1 Billion in Investments

Still, the flagship coin's gains pale in comparison to Ethereum's, which was also close to breaking a new record on Wednesday. The second biggest coin by market cap rose as high as $4,720 early Wednesday, just 3% off its 2021 record of $4,878.

Ethereum has surged 29% over the last week alone, pushing the coin higher amid a nearly 54% spike in the last 30 days.

ETH's price has been fueled by investors fast piling into Ethereum ETFs—which started trading last year—and publicly traded companies pivoting to a crypto treasury model and buying up billions of dollars' worth of the digital coin.

British bank Standard Chartered said in a research note Wednesday that ETH could reach as high as $25,000 by 2028.

Myriad users believe that ETH will skip past its all-time high mark and hit $5,000 for the first time by the end of 2025, giving that a nearly 87% chance as of this writing. (Disclaimer: Myriad Markets is a product of Decrypt's parent company, DASTAN.)

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