- Dogecoin price spiked double-digits in 24 hours to hit its highest stage in shut to 3 months.
- DOGE price broke above $0.13, above ranges seen in July as a number of meme cash surged.
Whereas the meme coin’s price rose amid broader optimism within the crypto market, which had Bitcoin above $68k, its possible Dogecoin benefited from recent upside sentiment following newest feedback by Tesla CEO Elon Musk.
Per information from CoinMarketCap, DOGE ranked as the very best performing coin among the many prime 100 cryptocurrencies by market cap on Friday morning. The dog-themed meme coin’s 10% in 24 hours acquire got here as Popcat, Mog Coin, Floki and cat in a canines’ world all surged.
On the time of writing, the worldwide meme coin market cap was up 3.6% to $62 billion, possible indicating a bullish flip for crypto is setting up.
As Dogecoin price eyes additional beneficial properties, crypto analysts are suggesting a possible breakout in on playing cards.
Crypto dealer Hardy says DOGE has seen a “textbook” falling wedge breakout and may very well be in for a wild run.
$DOGE, the meme king is waking up! A textbook breakout from the falling wedge. 🚀
I’m eyeing dips to construct a strong lengthy place.
Buckle up issues might get wild 🔥 pic.twitter.com/fmzQhrHKsD
— Hardy (@Degen_Hardy) October 18, 2024
DOGE spikes amid Musk remark
Donald Trump has beforehand famous that he’s open to X proprietor and Tesla CEO Elon Musk becoming a member of his cupboard if Trump wins the upcoming election. This explicit place is the brand new Division of Authorities Effectivity, or abbreviated to ‘DOGE’.
In feedback made in Pennsylvania, Musk replied to a query associated to the potential of him becoming a member of the brand new docket by mentioning “DOGE”. Though not explicitly concerning the meme coin, it’s notable that Musk has beforehand supported Dogecoin.
Tesla even added the meme coin as a cost possibility for its EVs. DOGE price reached an all-time excessive of $0.73 in Could 2021.