Dogecoin, the cryptocurrency known for its Shiba Inu dog, is leading the meme coin craze after hitting its highest price in more than three years, around $0.43, thanks to support from Elon Musk and President-elect Donald Trump. However, it is not only#Dogecoin‬⁩ , other "dog" coins are also "taking the throne" in the wave of excitement of the crypto market.

The Growth of "Dog" Coins

  1. Dogecoin ($DOGE ):

    • Price is up 100% in the past week, now near $0.40.

    • Benefiting from Elon Musk's public endorsement and the coin's presence in Trump's campaigns.

  2. Shiba Inu ($SHIB ):

    • The Ethereum-based coin is up 32% over the past week, reaching a price of $0.000025.

    • However, this increase is still not impressive compared to other "dog" coins.

  3. Dogwifhat ($WIF ):

    • Based on the Solana blockchain, WIF is up 71% over the past week, currently trading at $4.04.

    • Part of its success comes from being listed on Coinbase.

  4. Bonk (BONK):

    • BONK, another meme coin on Solana, also increased by 71%, currently priced at $0.000038 after being supported by Binance.US.

  5. Flocks (FLOKS):

    • Inspired by Elon Musk's dog, FLOKI (based on Ethereum) is up 64% over the past week, reaching a price of $0.00023.

Influence From Politics and Meme Culture

  • President-elect Trump has appointed Elon Musk to a special “department” called D.O.G.E. (Department of Government Efficiency). This has further increased attention on Dogecoin and related coins.

  • A meme coin project called “Department of Government Efficiency” (DOGE) was recently launched, with impressive growth on Ethereum and Solana (334% and 326% respectively in the past week).

Conclusion

While other small-cap coins are seeing huge gains, Dogecoin remains the king of the meme coin world with a market cap of $58 billion. However, investors should be cautious due to the high volatility of the market and the high speculative element in this meme coin craze.