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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.
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.
Gamza KhanzadaevAccording 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.
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.
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.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya