According to Decrypt, Dogecoin experienced a significant surge late Friday into early Saturday, reaching a price not seen in over three years. The meme coin climbed above $0.475 on Saturday morning, marking its highest point since May 2021. This rise follows a period of rapid growth for Dogecoin, which began before a recent election and intensified in the days following. Previously, Dogecoin had reached nearly $0.43 on November 13, setting a three-year high at that time, but this peak was surpassed over the weekend.
Despite the recent surge, Dogecoin's peak was short-lived, as is common with such a volatile asset. The price has since dropped to approximately $0.41 as the broader cryptocurrency market cools after last week's gains. Over the past 30 days, Dogecoin has increased by 195%, and over the past year, it has surged by 430%, according to CoinGecko data. However, in the last 24 hours, Dogecoin has decreased by 12%, reflecting the overall downturn in the crypto market.
Bitcoin, another major cryptocurrency, has also seen a decline, falling to $96,725 after reaching a new all-time high of $99,645 on Friday, narrowly missing the $100,000 milestone. Among the top 10 cryptocurrencies by market capitalization, XRP has experienced a 14% drop over the same period, following its own three-year high on Friday. Overall, meme coins have been among the hardest hit in the top 100 cryptocurrencies over the past 24 hours, with Brett (BRETT), Bonk (BONK), Popcat (POPCAT), Dogwifhat (WIF), Pepe (PEPE), and Floki (FLOKI) all experiencing declines of 10% or more. The broader crypto market has decreased by nearly 5% in the past day.
