Dogecoin is leading the pack among meme coins, outperforming rivals in both 24-hour and seven-day gains, according to Coinmarketcap.
It’s not just ahead of other meme coins — Dogecoin is outpacing every major cryptocurrency in the top 20 by market cap.
What’s Fueling Dogecoin's Double-Digit Rally?
The price of Dogecoin has surged by 30% over the past week, with a 10% increase in just the last 24 hours.
While many cryptocurrencies are riding the wave of Bitcoin’s rally (breaking above $68,000), Dogecoin is now outperforming Bitcoin itself, which saw a more modest 0.52% gain in the same period.
Elon Musk's Influence and Specu lation
The rally gained momentum following an unexpected $750 million Bitcoin transfer by Tesla into undisclosed wallets, sparking speculation that Dogecoin could be involved.
Musk added to the excitement when he briefly mentioned Dogecoin at a town hall meeting, fueling investor optimism and triggering a Fear of Missing Out (FOMO) among enthusiasts.
What’s Next for Dogecoin?
AllCurrently trading at $0.145, its highest level since June 13, Dogecoin is showing strong momentum toward the $0.2 price mark.
Despite this bullish trend, there’s a possibility of a brief retracement to $0.14 before continuing its upward trajectory.
Market Impact
The combination of Musk’s influence, speculation about Tesla, and a broader crypto rally has positioned Dogecoin for further gains, with the possibility of more price surges in October.
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