Dogecoin (DOGE), the world's largest crypto meme or cryptocurrency token, has reportedly risen about 7.86% in the past week. Its market capitalization value has even surpassed Ripple Labs' XRP and USDC.
Dogecoin's value in the last 24 hours has also reached 28.85% at a price of around US$38.5 billion. This also illustrates that the DOGE token is achieving strong bullish momentum in the crypto market.
Data from Coinmarketcap, this morning Monday (11/11), USDC stablecoin sits in 7th place currently having a market capitalization of around US$37 billion. Then XRP is now ranked 8th with a market capitalization value of US$34 billion.
Furthermore, Dogecoin has shifted Circle's USDC position which is called the sixth most valuable crypto in the world. Now, DOGE fills the 6th rank with USDC below 7th.
According to crypto market assessments, DOGE's rise has been driven since Dogecoin founder Elon Musk supported Donald Trump to become the US President-elect. Especially when Musk mentioned about the Department of Government Efficiency (D.O.G.E.) Institution which mirrored Dogecoin's ticker name, and made the price of the O.G meme soar.
