Dogecoin (DOGE) spreads green in its chart with the rally of 5.5%

DOGE trading volume soared over 232% in the last 24 hours.

Dogecoin (DOGE), the largest meme coin in the cryptocurrency market, has experienced a substantial surge, surpassing its rival Shiba Inu (SHIB) with an impressive gain. At the time of writing, Dogecoin price rallied by more than 5.6%, leaving Shiba Inu trailing behind with a difference of 25%. This surge in value demonstrates the continued resilience and popularity of Dogecoin among investors.

At the time of writing, DOGE traded at $0.06831 with a price surge of over 8.8% in the last 14 days. That has drawn significant attention. The surge in DOGE price is attributed to the growing support from high-profile figures, with none other than Twitter CEO Elon Musk expressing his fondness for the SHIB rival. 

In addition to the price surge, the meme coin has also witnessed a staggering rise in trading volume. Over the past 24 hours, the trading volume for DOGE has skyrocketed by an astounding 232%, reaching an impressive $781 million. This surge in trading activity indicates the growing confidence and participation of investors in Dogecoin’s market.

Also, the recent Elon Musk vs Mark Zuckerburge cage fight scenario fueled DOGE community interest. That led to increased demand and subsequent price appreciation for the meme coin. Further, Dogecoin’s rise to prominence as a meme-based cryptocurrency has captivated the attention of crypto enthusiasts.

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Filed under: Bitcoin - @ July 1, 2023 7:35 am