The post From Meme to Mainstream: Dogecoin’s Rising Star in the Crypto World and What’s Next for DOGE appeared first on Coinpedia Fintech News
The meme coin industry, led by Dogecoin (DOGE), will significantly benefit in the coming months catalyzed by the campaigns in the United States. The emergence of PolitiFi meme coins has increased the rate of web3 adoption in the recent past.
However, dog-themed Dogecoin remains the undisputed leader in the meme coin industry.
The large-cap altcoin, with a fully diluted valuation of about $20 billion and a daily traded volume of around $1.3 billion, takes pride in more than 7.3 million holders.
Why Investors Flock to Dogecoin?
The approval of spot Ether ETFs in the United States has been a major turning point for the mainstream adoption of digital assets and web3 projects. According to on-chain data analysis provided by Santiment, Dogecoin whales have been accumulating more coins in anticipation of the inevitable altseason.
The fact that tech billionaire Elon Musk has remained loyal to the Dogecoin community, is enough evidence that X platform will integrate with the meme lord. Moreover, Dogecoin is already used as a means of payment by Tesla and SpaceX. Notably, the X platform has already secured 34 money transmitter licenses.
𝕏 Payments — later this year.Only 16 states left! pic.twitter.com/OcEJWGnfkF
— DogeDesigner (@cb_doge) July 22, 2024
According to Musk, Dogecoin is the ultimate choice of payment as the United States dollar continues to get devalued through constant printing.
Midterm DOGE Price Expectations
The PoW-secured meme coin surged over 23 percent in the past two weeks to trade around 13 cents on Tuesday. From a. Technical standpoint, DOGE’s price is on the cusp of a major bullish uproar towards its all-time high.
$DOGE has literally just made a textbook perfect retest. pic.twitter.com/PZa2MRTRmx
— Woetoe (@cryptowoetoe) July 23, 2024
According to several crypto analysts led by Rekt Capital, Dogecoin price has successfully retested the macro bullish breakout and is currently in the initial stage of a major uptrend.
Also Check Out: What’s Next For Top Memecoins As Bitcoin Price Hit $68K?
