Dogecoin (DOGE) Price Skyrockets as Meme Coin King Outshines Bitcoin
Release: 2024/10/16 22:04 Reading: 923
Dogecoin Soars: Strong Momentum and High Trading Volume
The largest and most popular meme cryptocurrency, Dogecoin (DOGE), has experienced a surge in momentum today. Since the opening of the new daily candle, DOGE has gained over 8%, trading at $0.126 per coin, its highest price since late September.
This surge is attributed to increased trading activity, with CoinMarketCap and CoinGlass reporting a combined trading volume of $5.47 billion for DOGE on spot and futures markets.
Dogecoin now holds the top spot among both meme cryptocurrencies and the overall crypto market, alongside established assets like Bitcoin, Solana, Ethereum, and Sui. Its closest competitor in the meme cryptocurrency space, Pepe Coin (PEPE), has a total volume of $4.9 billion, trailing DOGE by half a billion.
Moreover, DOGE has emerged as the leader among the top 100 crypto assets in terms of 24-hour growth, surpassing all its rivals. The closest meme coin, BONK, exhibits half the growth dynamics, while Bitcoin lags behind by eight places.
Traders speculate on the future of DOGE, with some predicting a retest of $0.14 per coin. This level represents a significant resistance point for Dogecoin. If bulls maintain their momentum there, it could signal a shift in bias and further gains for the meme coin.
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