Dogecoin is soaring Sunday morning at 9:44 a.m. EDT, climbing 20.5% against the U.S. dollar. The broader meme coin market has seen an 18.9% uptick over the past 24 hours, now valued at over $90 billion according to coingecko.com. Dogecoin (DOGE) alone represents $36.17 billion of that value this weekend, making it the seventh-largest digital asset by market cap.
DOGE alone captures 40.19% of the entire meme coin market. It’s had a 69.2% lift over the last week and has surged an impressive 127.8% against the dollar in the past 30 days. In the last 24 hours, DOGE recorded a global trading volume of $8.85 billion, placing it fifth in worldwide trading volume. As of this moment, DOGE is trading at $0.239 per coin.
Currently, DOGE has a circulating supply of around 146,720,396,383, with 7,034,347 holders holding this top meme coin. The top ten DOGE holders control 43.86% of the supply, while the top 100 command 64.69% of circulating tokens. Miners are contributing 1.23 petahash per second (PH/s) to support the Dogecoin blockchain. Just last month, on Oct. 16, 2024, at block height 5,422,073, the network achieved a peak of 3.77 PH/s.
Dogecoin’s latest climb underscores the ongoing fascination with meme coins in the crypto sphere. Over the past ten months, the community’s passion and speculative fervor have powered its notable gains. With its significant slice of the meme coin economy and robust trading levels, DOGE exemplifies the unique forces shaping these alternative assets, suggesting it may continue to be a formidable player amid the evolving crypto market.
