Stay updated on the latest crypto trends with insights on Dogecoin's recent surge and the volatile meme coin market.
Although Dogecoin's momentum has eased off lately, the leading memecoin remains one of the standout performers in the past seven days. The current price of DOGE stands at $0.15, as per CoinGecko's latest figures. This marks an impressive surge of almost 65% over the week.
Earlier today, this digital asset, ranked 10th in terms of market capitalization, soared to a peak of $0.18—effectively doubling its value. However, these gains were short-lived as the broader crypto market experienced a downturn earlier this morning, following Bitcoin's attainment of a new all-time high.
Meanwhile, Shiba Inu (SHIB) has outpaced even DOGE's gains over the past week, with the 11th largest digital asset by market cap witnessing a remarkable surge of over 196%.
Bitcoin's meteoric rise today has not only propelled it to unprecedented heights but has also uplifted the entire crypto market—especially meme coins. These highly volatile digital assets, inspired by internet memes and humor, have seen sharper increases compared to their more conventional counterparts.
Elsewhere, Pepe has witnessed a surge of nearly 130% over the week, while Bonk, a meme token built on Solana, has seen its value double.
It's worth noting that the prices of meme coins and tokens are notorious for their rapid fluctuations, making it challenging to capitalize on gains. The crypto market as a whole experienced a significant dip earlier this morning, shortly after Bitcoin set a new price record on Coinbase.
In contrast to Bitcoin, DOGE still remains significantly below its all-time high of $0.73, recorded in May 2021—a difference of almost 80%. Similarly, SHIB would need to appreciate by over 60% to revisit its peak levels from the 2021 bull run.