Dogecoin has been trading 3.37% higher in the last 24 hours. And in seven days, Elon Musk’s favourite digital currency rose 5.96%. DOGE rose 2.32% against Bitcoin and fell 4.06% over Ethereum in 24 hours. DOGE has risen 4321.72% since the beginning of the year, while cryptocurrency has risen 30.55% in the last 90 days.
On Thursday, DOGE moved with other significant cryptocurrencies as global cryptocurrency market capitalization rose 3.55% to $2.62 trillion. The meme coin has not had much interest on Twitter. This was mentioned in 2222 tweets. Bitcoin and Ethereum were featured on 16,957 and 6,452 Twitter.
Analysts expect Bitcoin to grow further, and the next possible breakthrough is $71,000. The positive effect of the leading cryptocurrency has shifted to other altcoins such as Ethereum, Solana and others.
BTC’s latest action is activated with the launch of the ProShares Bitcoin Strategy ETF. Dogecoin continues to grow with Ethereum and Bitcoin. Experts predict that DOGE may create a new indicator.
Analysts hope that DOGE will recover quickly after the downturn, as 70% of DOGE-owned wallet addresses are profitable. DOGE has a market capitalization of $32.4 billion and is one of CoinGecko’s top 10 cryptocurrencies. Although inevitable Dogecoin spin-offs shot the cryptocurrency exchanges, they failed to contract DOGE with market capitalization.
Interestingly, Ethereum creator Vitalik Buterin sold $1.8 million in dog-themed cryptocurrency. Vitalik is on the Advisory Board of the Dogecoin Foundation. The creator of Ethereum did not sell on DOGE or SHIB decentralized exchanges in its last activity.
Although Shiba Inu aims to bring down DOGE and is known as the “Dogecoin killer”, its price has just dropped. The token is trying to maintain its position in the top 15 cryptocurrencies. Dogecoin owners are waiting for Robinhood to release Memecoin wallets. DOGE proponent and trader TDogewhisperer believes that running a wallet will increase the usefulness of meme coins.
According to one of the cryptocurrency analysts, Memecoin’s growth target is $0.48, and DOGE has the prospect of rising in price. According to FXStreet analysts, the activity of the Meme coin network indicates a massive breakthrough.
October turned out to be a significant month for the trade sector. The changes and innovations that this period has brought have had a turning point in the crypto field. The currently underway changes are particularly noteworthy as slightly more than two months are left before the end of the year.