DOGECOIN (DOGE) CLOSING IN ON XRPThe price of Dogecoin (DOGE), the prominent meme cryptocurrency, surged by over 10% recently, reaching a peak of $0.1975 earlier this Sunday before settling at $0.195, according to CoinGecko data.NOTABLE PERFORMANCEDOGECOIN stands out as the best-performing cryptocurrency in the top 20, surpassing its rival Shiba Inu (SHIB). Currently, it ranks fifth in terms of 24-hour gains, trailing only Ethena (ENA), Fantom (FTM), ORDI (ORDI), and eCash (XEC).CLOSING THE GAP WITH XRPFollowing its recent surge, DOGE is closing in on XRP, with market capitalizations of $32.8 billion and $28 billion, respectively. Dogecoin shorts worth over $5 million were liquidated in the last 24 hours, comprising the majority of liquidated positions at $6.42 million.TRADING VOLUME AND PRICE OUTLOOKDOGECOIN remains one of the most traded cryptocurrencies, boasting a 24-hour trading volume of $2.3 billion. With a monthly close above the pivotal $0.20 level, DOGE may establish support, potentially paving the way for a surge to $0.30. In 2024, the meme coin has already doubled its price, while the combined value of joke cryptocurrencies has nearly tripled.CAUTIONARY NOTESDespite its recent gains, DOGECOIN's bullish momentum may be vulnerable. Recent data from Into TheBlock indicates mostly negative on-chain signals, with net network growth and large transactions currently in the red. Investors should exercise caution and monitor developments closely.

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