Here’s Why Dogecoin Rallies 40%, Beating Cardano, Shiba Inu

• Dogecoin emerged as a standout performer this week, knocking out Cardano.
• DOGE has surged 39.68% from a low of about $0.125 to as high as $0.1746.
• Meanwhile, its closest rival in the meme space, Shiba Inu, saw a 3.18% gain. 

In the last few days, Dogecoin (Doge) has emerged as a standout performer, taking the crypto trading community by storm as it knocked out Cardano to become the eighth most valuable crypto. 

DOGE has surged from a low of about $0.125 on Wednesday to as high as $0.1746 in the last 24 hours. This trajectory amounts to a significant 39.68% gain, coming at a time when the market sentiment is mostly bearish. 

Moreover, this shocking performance has further solidified Dogecoin’s leadership position in the meme coin landscape. While recording a 6.31% gain over the past day, its closest rival in the meme space, Shiba Inu, saw only a 3.18% gain. 

Meanwhile, PEPE and Floki have witnessed price declines during the same period. DOGE’s unexpected performance has prompted inquiries into the factors influencing its bullish surge amid bearish sentiments.

On Thursday, the institutional arm…

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