Dogecoin (DOGE) has surged 23% in the past 24 hours, overtaking leading crypto assets like USDC and XRP on the ranking.

This rise follows a broader market rally, with many assets, including Bitcoin, Ethereum, and various meme coins, hitting highs not seen in months. The influx of new funds from institutional and retail investors has been a key driver behind this surge.

Once considered a $40 billion “joke” project, Dogecoin has seen substantial inflows over the past day, placing it among the biggest gainers. The reasons for this surge range from macroeconomic factors to U.S. political developments and the continued influence of Elon Musk, a prominent Dogecoin advocate. 

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