Dogecoin Rallies with Trump’s Victory: Climbs 92% to Sixth Place

Last week, Dogecoin (DOGE) soared following Donald Trump's election victory, ranking among the top-performing cryptocurrencies with an impressive 92% weekly gain. This surge lifted DOGE's market cap to $42.3 billion, surpassing both XRP and USDC and placing it sixth. Daily trading volume also skyrocketed by 220%, surpassing $16.8 billion.

Potential for a Major DOGE Rally

Cryptocurrency market analysts anticipate a strong upward trend for Dogecoin. Analyst Ali Martinez predicts a significant price increase, with Fibonacci projections indicating potential peaks between $3.95 and $23.26.

Market Activity and Interest

According to Coinglass, DOGE experienced over $64 million in liquidations within the past 24 hours, with $36 million in shorts and $27.64 million in longs. Open interest rose by 20% to $2.23 billion, indicating increased market activity and investor interest.

Memecoin Surge Led by Dogecoin

Dogecoin's rally has fueled the growth of the meme coin sector. Shiba Inu (SHIB) rose 20% in the last day and 57% weekly. Pepe Coin (PEPE), Dogwifhat (WIF), and Bonk (BONK) have also gained between 12% and 25% in the past 24 hours, with PEPE targeting a 200% increase.

Crypto Market Rebound

Trump's victory sparked a $400 billion surge in the total crypto market cap, coinciding with Dogecoin's 92% rally. Bitcoin climbed 17.9%, Ethereum gained 29%, and Solana grew by 27%, pushing the overall market valuation to $2.75 trillion. This upturn showcases the resilience of the crypto market, with analysts optimistic about Bitcoin reaching $100,000.

Keywords: Dogecoin, meme coin, market cap, Donald Trump, crypto rally