dogecoin (DOGE) has resumed its inch toward the Moon, one rally at a time.
The popular Memecoin climbed another 15.81% on Tuesday, allowing made substantial gains over the weekend, The coin has cooled off trading since then, but DOGE is still up by over 9% on the day. According to data from CoinMarketCap, over the past week, DOGE is up 22% to $.084.
Since that price movement, some 2.37 million DOGE investors — 58% of all DOGE holders — are now in profit, according to analysis From IntoTheBlock. Those profitable investors collectively own $8.13 billion worth of the dog-themed coin, which now boasts a market cap of over $11.6 billion.
This puts Dogecoin firmly ahead of the Shiba Inu (SHIB) in terms of market cap; two dog-themed meme coins have been battling each other for a long time in this regard, The market cap of SHIB is currently around $8.6 billion.
$1.7 billion worth of DOGE swapped hands in the last 24 hours alone, a substantial increase of 21.14% in 24-hour trading volume.
Today’s price marks a 10-week high for the coin, which last saw such highs in late May.
Although Made to poke fun at the crypto industryDogecoin is no longer a laughing matter. crypto darling (Ironically either NoTesla and SpaceX CEO Elon Musk, Dogecoin has recently gained a reputation as a mainstay cryptocurrency even outside crypto circles.
luxury brands like gucci accept doge now as in-store payment; you can also use to buy burritos,
Last week, billionaire entrepreneur Mark Cuban doubled down on his rosy outlook on Dogecoin, stating one’s faith That its network has more potential applications than Cardano’s more prominent network.
Dogecoin offers no utility when it comes to building on top of Memecoin’s network, with Cuban recently quipped that Doge’s usefulness lies not in its application potential, but by its widespread and growing use as a mainstream payment method. from adoption. “I can buy things” [with DOGE] Anywhere that accepts crypto,” Cuba said.
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
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