Price: $0.39006 0.6768%
Market Cap: 57.29B 1.7741%
Volume (24h): 8.43B 0.4%
Dominance: 1.7741%
Price: $0.39006 0.6768%
Market Cap: 57.29B 1.7741%
Volume (24h): 8.43B 0.4%
Dominance: 1.7741% 1.7741%
  • Price: $0.39006 0.6768%
  • Market Cap: 57.29B 1.7741%
  • Volume (24h): 8.43B 0.4%
  • Dominance: 1.7741% 1.7741%
  • Price: $0.39006 0.6768%
Home > Information news > Dogecoin (DOGE) Leads Meme Coin Rally With 92% Gains Overtaking XRP, USDC

Dogecoin (DOGE) Leads Meme Coin Rally With 92% Gains Overtaking XRP, USDC

Release: 2024/11/13 02:39 Reading: 443

Original author:ETHNews

Original source:https://coinmarketcap.com/community/articles/673399d5d6de6c394cb568ea

Dogecoin (DOGE) Leads Meme Coin Rally With 92% Gains Overtaking XRP, USDC

Dogecoin Soars 92%, Becoming Sixth-Largest Cryptocurrency

Dogecoin surged by 92% following Donald Trump's presidential election win, surpassing XRP and USDC to become the sixth-largest cryptocurrency by market capitalization. Notably, the overall crypto market capitalization increased by an impressive $400 billion after Trump's victory.

Market Performance

Dogecoin's meteoric rise has propelled it into the top six cryptocurrencies, overtaking XRP and USDC. As of writing, DOGE is trading at $0.2908, marking significant gains of 23.78% and 84.73% in the past 24 hours and month, respectively. Additionally, it has recorded a remarkable 159.32% increase in the past month. Its market capitalization has also swelled to $42.59 billion.

Technical Analysis

Market analysts have noted DOGE's strong historical chart pattern, suggesting a potential for further gains. According to Martinez, Dogecoin could experience a mega rally, peaking within the 1.618 to 2.272 Fibonacci levels. This translates to a price range of $3.95 to $23.26 if bullish momentum continues.

Liquidation Data

Coinglass liquidation data provides further insight into Dogecoin's surge. Over the past 24 hours, DOGE liquidations exceeded $64 million, with short liquidations accounting for $36 million and long liquidations $27.64 million. Moreover, open interest in Dogecoin futures has increased by 20%, surpassing $2.23 billion.

Impact of Trump's Win

Trump's election win has reinvigorated the cryptocurrency market. The overall market capitalization surged by $400 billion after his victory. Dogecoin has led gains among the top coins with large market caps.

Market Outlook

Bitcoin has risen by 17.9%, Ethereum by 29%, and Solana by 27%, contributing to the total crypto market capitalization reaching $2.75 trillion, just below its March 2024 peak of $2.76 trillion. Market analysts are anticipating a potential $100,000 target for Bitcoin as it approaches its all-time high of $81,843.

Meme Coin Rally

Bitcoin's success has ignited a rally in the meme coin sector. At the time of writing, SHIB is trading at $0.00002597, marking a significant surge of 13.71% and 52.10% in the past 24 hours and week, respectively.

Conclusion

Dogecoin's recent rally, fueled by Trump's election win, has positioned it as the leading meme coin and the sixth-largest cryptocurrency. Analysts predict continued bullish momentum for digital assets.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.