- The worth of dogecoin rose by double digits in 24 hours, reaching the very best degree in virtually three months.
- The worth of DOGE broke above $0.13, above ranges seen in July, when a number of meme cash surged.
Whereas the meme coin's value rose on broader crypto market optimism that had Bitcoin above $68,000, its peer Dogecoin benefited from contemporary constructive sentiment following the newest feedback from Tesla CEO Elon Musk.
DOGE ranked as the highest performing coin among the many prime 100 cryptocurrencies by market capitalization on Friday morning, in accordance with information from CoinMarketCap. The dog-themed meme coin's 10% achieve in 24 hours got here as Popcat, Mog Coin, Floki and the cat surged within the canine world.
On the time of writing, the worldwide market cap of meme cash has elevated by 3.6% to $62 billion, presumably indicating an upward flip for cryptocurrencies.
As the worth of Dogecoin continues to rise, crypto analysts counsel a possible breakout is on the playing cards.
Crypto dealer Hardy says DOGE has seen a “textbook” falling wedge and might be on a wild run.
$DOGEmeme king wakes up! A textbook rapture from a falling wedge. 🚀
I’m taking a look at dips to construct a strong lengthy place.
Get connected to the trigger 🔥 pic.twitter.com/fmzQhrHKsD
— Hardy (@Degen_Hardy) October 18, 2024
DOGE got here out on prime amid Musk's commentary
Donald Trump has beforehand famous that he’s open to X proprietor and Tesla CEO Elon Musk becoming a member of his cupboard if Trump wins the upcoming election. This explicit place is the brand new Division for Authorities Effectivity, or 'DOGE' for brief.
In feedback in Pennsylvania, Musk responded to a query associated to the potential of his becoming a member of the brand new file by mentioning “DOGE.” Though not particularly concerning the meme coin, it’s notable that Musk has beforehand supported Dogecoin.
Tesla even added meme coin as a cost choice for its electrical automobiles. The worth of DOGE reached an all-time excessive of $0.73 in Might 2021.
