Dogecoin Price Fades as Other Memecoins Surge: Is DOGE Losing its Grip?
The Dogecoin price has recently experienced a significant surge, reaching its highest level in three years last week. This increase followed the elections and was driven by the announcement that Elon Musk will co-lead a new initiative called the Department of Government Efficiency (D.O.G.E.) under Donald Trump.
However, after this impressive rise, the Dogecoin price began to show slight bearish signs, dropping from its monthly high of $0.43 within the past few days. Interestingly, while the Dogecoin price has dipped, other meme coins have risen even more sharply, showcasing greater percentage gains.
Among the top 100 meme coins by market cap, Dogecoin reportedly fell to 7th place in weekly price increases. With an overall gain of 442,260%, market experts are skeptical about the Dogecoin price experiencing another massive rally. They suggest that newer assets like RCOF may outperform Dogecoin once listed on the open market.