On Saturday, the rate of the first and most famous meme cryptocurrency Dogecoin rose by 6.6% against the dollar and showed a weekly gain of more than 34%.
On the Binance exchange, the price of DOGE at one point reached $0.3068, but after that, a series of rapid sales slowed the growth. The coin is now trading around $0.28, which corresponds to a market capitalization of about $43.45 billion. This is almost half of the total value of the meme token sector, which this weekend rose to $92.2 billion.
Over the past 12 months, Dogecoin has risen in price by 167%, but it is still far from the historical record of $0.7316, set in May 2021 – it needs to add more than 60%.
Among the reasons for the growth, experts cite the launch of a new fund based on Dogecoin called DOJE and the decision of Cleancore to include the token in the treasury. In addition, network data shows that large holders (“whales”) are actively accumulating the coin. DOGE managed to break through the weekly and monthly moving averages, which also strengthened the upward trend.
Interest in the meme market is also noticeable among other projects: the shiba inu token (SHIB), which ranks second in capitalization in this niche, has gained about 15% in a week.
Thus, Dogecoin has once again found itself in the spotlight – and although it is still far from its previous heights, the current growth shows that interest in “dog” coins remains.
