Dogecoin Spikes 78% This Week, Flips Ripple’s XRP, USDC To Become Top-6 Crypto Amid Elon Musk Hype ⋆ ZyCrypto
The post Dogecoin Spikes 78% This Week, Flips Ripple’s XRP, USDC To Become Top-6 Crypto Amid Elon Musk Hype ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     The leading canine-themed cryptocurrency, Dogecoin (DOGE), today overtook Ripple-promoted XRP and Circle’s USDC stablecoin to become the sixth-most valuable crypto in the world. DOGE’s upsurge is fueled by positive sentiment around the crypto’s endorsement by tech billionaire Elon Musk following Donald Trump’s landslide win in the U.S. Presidential elections. With Musk having Trump’s ear, investors are speculating Dogecoin could emerge as a standout beneficiary. Dogecoin Hits Highest Price Since 2021 Dogecoin is now up 28.8% in the past 24 hours alone, and is up an eye-watering 78.3% over a seven-day period. At press time, the Shiba Inu-represented crypto is changing hands for around $0.2641 — its highest level since November 2021. DOGE is now valued at roughly $38.5 billion, while XRP is ranked eighth at around $34 billion, per CoinGecko. For comparison, Bitcoin remains king with a market capitalization above $1.57 trillion. The Doge project has also unseated the USDC stablecoin, which currently boasts a market value of approximately $37 billion. Is A Parabolic Rally To $20 DOGE Underway? Popular analyst Ali Martinez has suggested that Dogecoin is on the verge of a meteoric price spike. Advertisement   Martinez pointed out that based on historical patterns, a potential Dogecoin top might be at the 1.618 and 2.272 Fibonacci levels. Based on past bull cycles, the pundit forecasts that DOGE could potentially reach $3.95 to $23.26 if similar momentum follows. #Dogecoin $DOGE is about to go parabolic! Based on historical patterns, a potential top might lie between the 1.618 and 2.272 levels, translating to a price range of $3.95 to $23.26. pic.twitter.com/FqvC3AEF7o — Ali (@ali_charts) November 10, 2024 Meanwhile, with eccentric X owner Musk now likely having influence in the Trump administration, Dogecoin’s future prospects look promising. Elon Musk And DOGE The price of Dogecoin has more than…
Filed under: News - @ November 10, 2024 6:24 pm