Dogecoin (DOGE) Price Skyrockets as Meme Coin King Outshines Bitcoin
The price of the largest and arguably most popular cryptocurrency meme, Dogecoin (DOGE), is showing impressive momentum today. Thus, since the opening of the new daily candle, the price of DOGE is showing an increase of 8% and more, currently reaching $0.126 per coin, which is the maximum since the end of September.
Advertisement
The increase in the price of Dogecoin is due to a corresponding increase in trading activity related to the popular meme cryptocurrency. According to CoinMarketCap and CoinGlass, the total trading volume of DOGE on the spot and futures markets combined amounts to $5.47 billion.
Related
Wed, 10/16/2024 - 12:48
Cryptocurrency Market Witnesses Greed Levels Not Seen Since July Gamza Khanzadaev
HOT Stories
Legendary Trader Peter Brandt: 'Bitcoin Price Is in Window', Here Are Options
Grayscale Makes Biggest Crypto ETF Push With XRP in Focus
Coinbase's Top Lawyer Sheds Light on Major Development in SEC Lawsuit
MicroStrategy's Saylor Responds to Elon Musk's Crucial Post With Bitcoin Message
According to these figures, Dogecoin is now not only at the top of the meme cryptocurrencies list but also at the top of the entire crypto market, right next to top assets like Bitcoin, Solana, Ethereum and Sui. Speaking of meme cryptocurrencies, DOGE's closest competitor there is Pepe Coin (PEPE), which, despite having a total volume of $4.9 billion, is still half a billion behind the big meme coin.
Advertisement
But more importantly, Dogecoin became the leader among the top 100 crypto assets in terms of growth over the past 24 hours, leaving all of its competitors completely behind. The closest meme coin to DOGE in this ranking, BONK, shows twice worse dynamics, and Bitcoin is eight places lower.
Related
Wed, 10/16/2024 - 10:12
DOGE Founder Reveals: Does He Still Own Dogecoin? Gamza Khanzadaev
What's next for DOGE is the question on every trader's mind right now. Some predict at least a retest of $0.14 per coin, where the next big local test for Dogecoin is located. If bulls show their strength there, it could prove to be a bias change and pave the way for further gains for the main meme coin.