In a stunning feat, Dogecoin has become the first memecoin to enter the top 5 crypto’s by market capitalization without considering stablecoins. Catapulted into this position with a staggering 82% explosion in value this week, Dogecoin’s meteoric ascension reflects the current trends of the market, with the outlook for memes like Dogecoin being overwhelmingly bullish.
Dogecoin is “just getting started”, given that we are in the preliminary stages of the bull run. Multiple bullish catalysts could see Dogecoin soar higher, including Elon Musk’s association with pro-crypto president-elect Donald Trump and increasing market hype. However, some analysts are urging investors to avoid Dogecoin preceding a minor correction.