Oct 18, 07:55 AM

Dogecoin Surges 24% in a Week, Adds $2.3 Billion to Market Cap, Reaches $20 Billion

Dogecoin (DOGE) has experienced a significant surge, adding $2.3 billion to its market cap in the last 24 hours, bringing it to $20 billion. This increase represents a 24% rally over the past week and a 22% increase over the past month. DOGE also reclaimed a $590M market cap not seen since June. Despite these gains, the DOGE/BTC ratio remains in a bear trend that has persisted since May 2021. The recent surge in Dogecoin's value has also led to a broader rise in memecoins, with the seven biggest 24-hour gainers among the top 100 tokens by market cap all being memecoins. Analysts note that this pattern mimics the late 2020 breakout, suggesting a potential repeat of past performance.

#Dogecoin

Written with ChatGPT (GPT-4o).