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Meme Coin Frenzy Takes Solana and Ethereum by Storm

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Meme coins, often dismissed as frivolous, are gaining credibility in the crypto sphere. BitMEX co-founder Arthur Hayes challenges the notion of labeling them as “stupid and valueless.” In a recent interview, he highlighted their potential to attract attention and talent to blockchain networks. Hayes emphasizes their role in fostering community engagement and expanding the user base. This sentiment is echoed by Real Vision CEO Raoul Pal, who sees memecoins as a gateway for younger investors, tapping into the gaming mentality prevalent among Gen Z and millennials.

Despite skepticism from industry experts like Ethereum co-founder Vitalik Buterin, meme coins are proving their worth as a vibrant sector within crypto. Solana-based meme coin, WIF, recently surpassed Ethereum’s ARB in market capitalization, demonstrating their growing influence. However, caution is warranted, as Franklin Templeton warns of the risks associated with investing in assets lacking fundamental value.

Meme Coin Mania Grips Cryptocurrency Market

The meteoric ascent of meme coins, exemplified by tokens like Shiba Inu (SHIB), Dogwifhat (WIF), and BOME, ignites both enthusiasm and trepidation in the cryptocurrency realm. While some hail these coins as a lighthearted introduction to digital assets, others, including CryptoQuant CEO Ki Young Ju, raise red flags about their potential harm to the industry.

Ju voices concern over meme coins’ viral promotion and speculative essence, which he believes could undermine the credibility and evolution of cryptocurrencies. He warns against the overshadowing of genuine projects by billion-dollar meme coins, emphasizing the risks of these tokens to investors’ portfolios.

Comparing the trend to the speculative fervor of the initial coin offering (ICO) era, Ju underscores the allure of quick gains through meme coins, cautioning against potential losses akin to those experienced during the ICO boom of 2018. Despite arguments advocating for memecoins as an on-ramp for new entrants, Ju urges vigilance, drawing from the cautionary tales of past industry bubbles, as reported by TWJ.

Nevertheless, memecoins continue to outperform other crypto assets, indicating their resilience and potential for further growth. As the crypto landscape evolves, memecoins may play an integral role in shaping the future of decentralized finance and blockchain technology.

Meme Coin Surge : 2018 ICO Disaster Repeating Itself?

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The recent meteoric rise of meme coins, epitomized by tokens like Shiba Inu (SHIB), Dogwifhat (WIF), and BOME, has sparked both excitement and concern within the cryptocurrency community. While some view these coins as a playful entry point into the world of digital assets, others, like Ki Young Ju, CEO of CryptoQuant, are sounding the alarm about their potentially detrimental effects on the industry.

Ju’s apprehensions stem from the viral marketing and speculative nature inherent in meme coins, which he believes pose a significant threat to the legitimacy and progress of the cryptocurrency sector. He warns against the overshadowing effect of billion-dollar meme coins on legitimate projects striving to innovate and advance the industry.

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Source: X

Drawing parallels to the speculative frenzy of the initial coin offering (ICO) era, Ju highlights the allure of easy money through meme coins, which he fears could lead to widespread losses for investors. Despite arguments that meme coins serve as a gateway for new users to enter the crypto space, Ju cautions against the risks involved, citing past failures of projects from the ICO boom in 2018.

Meme Coin Hype Masks Innovation Shortcomings

In response to counterarguments suggesting that these coins are simply a manifestation of the inherent speculation in the crypto market, Ju expresses concern about the lack of industry leaders advocating for genuine product development. He observes a troubling trend wherein the market gravitates towards gambling rather than fostering innovation and building tangible solutions.

Ju emphasizes the importance of visionary leaders like Changpeng Zhao, the former CEO of Binance, who champion substantive products and innovation within the industry. Zhao’s leadership exemplifies a commitment to driving the industry forward with meaningful contributions.

As the crypto community grapples with the implications of meme coins, it becomes evident that a balance must be struck between fostering innovation and managing speculative fervor. With regulatory scrutiny intensifying and industry leaders like Zhao under legal scrutiny, the future of meme coins and their impact on the broader cryptocurrency landscape remains uncertain. However, Ju’s warnings serve as a timely reminder of the potential pitfalls of chasing quick gains in an evolving market.

Solana’s Meteoric Rise: 1,133% Surge in Meme Coin Mania

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In the fast-paced world of cryptocurrency, Solana has emerged as the hotbed for meme coin mania. Riding the wave of this frenzy is the latest sensation: “Jeo Boden.” Early adopters of this new meme coin are witnessing staggering returns, with some boasting over 100x gains. The success of “Jeo Boden” has sparked a flurry of imitators, with copycat coins now proliferating the market.

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Source: X

Famously known as the “Spoderman Politicians” wave, these coins take inspiration from misspelled names of prominent figures, with tickers like BODEN, TREMP, and DANOLD soaring in value. “Jeo Boden,” in particular, has taken the lead with an astonishing 1,133% surge in a single day, boasting a market cap exceeding $40 million. Its success has spurred a cascade of derivative projects, dominating the meme coin landscape on Solana.

Speculation abounds regarding the sudden attention on “Jeo Boden.” Some attribute it to the impending U.S. elections, while others see it simply as a product of its quirky and humorous appeal. Regardless, meme coins have been on a tear amidst Bitcoin’s rally to new all-time highs.

The minimalist Jeo Boden website exudes a playful vibe, adorned with the slogan “own onli boden nd be happy.” Social media chatter suggests that coins like BODEN and TREMP could evolve into platforms for betting on election outcomes.

Beyond politicians, the meme coin frenzy has expanded to encompass public figures like Vitalik Buterin and Andrew Tate, reflecting the broader trend of irreverent coin creations.

However, investors should tread cautiously in this volatile landscape, as meme coins are notorious for rug pulls, where creators abscond with liquidity, leaving investors with worthless assets. While the spectacle may be entertaining, prudent financial decisions should always prevail.

Solana Nears 2-Year High

Solana’s resurgence in the cryptocurrency market is undeniable. As Bitcoin and Ethereum take a backseat, SOL emerges as the star performer, nearing its 2-year high. Surging over 500% from less than $10 to over $130, SOL’s bullish run has captured investors’ attention.

With a 120% spike in trading volume, SOL’s trajectory draws comparisons to Ethereum’s 2020 journey, hinting at an imminent takeoff. Beyond price, Solana’s gas fees have witnessed a staggering rise, surpassing 8% of Ethereum’s, signifying its growing prominence, as reported by TWJ.

Moreover, Solana’s DeFi ecosystem hits a milestone, exceeding $2 billion in Total Value Locked (TVL). This achievement reflects renewed confidence post-FTX collapse, with user activity doubling since December.

Solana’s scalability and affordability position it as a formidable alternative to Ethereum, making it a favored choice for investors and developers alike. As SOL continues to shine, its ascent signifies a promising future in the evolving crypto landscape.

Dogwifhat Skyrockets 50% Overnight, Smashing BONK, DOGE To $2

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The Solana-based meme coin Dogwifhat (WIF) has seen a whopping 50% rise in value within the last 24 hours. With a price of $2.02 and a market cap of more than $2 billion, this unbelievable growth broke records and outperformed established rivals like DOGE and BONK for barely three months after its initiation.

Dogwifhat’s rise is a sign of the recent success of meme coins, with CoinGecko showing an average surge of 2.8% for coins worth more than one billion dollars. Myro (MYRO) and Mog coin (MOG), among other less popular ones, have also experienced notable gains from 80% upwards.

However, the token went viral since its November 2023 release due to its association with a whimsical picture of a dog wearing a hat which struck a chord within the crypto community. This link is responsible for WIF’s memetic power besides fostering investor and fan unity.

On the last day alone, WIF saw up to $1 billion in trading volume, proof that it is increasingly becoming more popular. It is a major meme token that has never crossed the psychological benchmark of $1, as other leading meme coins have not been able to do so, such as dogecoin (DOGE) and Shiba Inu (SHIB).

This meteoric rise was likely catalyzed by the token being listed on Binance, a top cryptocurrency exchange with $219 million worth of trades on WIF in just one day. The value of the token may also have been boosted by speculations of future listings as well as its increasing popularity among investors.

Dogwifhat Surge Reflects Meme Coin Momentum

Since late February, meme coins have captured the spotlight, riding the coattails of a bitcoin-led rally. These tokens are increasingly viewed by investors as a speculative bet on the expansion and adoption of their respective blockchain networks.

According to CoinMarketCap, Currently, WIF is trading at $2.02, with a market cap of $2.06 billion. It has increased 50% in the last 24 hours and 193% in the last 7 days.

WIF 1D graph coinmarketcap
Source: CoinMarketCap

Dogwifhat’s performance is evidence of the changing trends in the cryptocurrency industry, where meme coins are no longer marginal stuff but players shaping the future of digital assets. Dogwifhat’s historic run may signal new dynamics in a rapidly growing cryptosphere.

Related Reading | Bitcoin’s $69K Wild Ride: Decade-Old Addresses Holds The Key

Memecoins to Watch: Top 5 for Potential Bull Run Opportunities

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Among the most active tokens in the cryptocurrency market right now are memecoins. Several well-known meme currencies, which are known for their volatility, have increased by over 10,000% in the last few months. Investors have made significant gains by jumping on the appropriate memecoin at the proper times. Not all memecoins, though, are as successful as this, so investors must find high-potential tokens before they see notable increases in value.

After a phase in which Bitcoin (BTC) gained prominence, especially after its underlying spot Exchange Traded Fund (ETF) was approved, the memecoin market has significantly changed in terms of growth trajectory.

Here are five memecoins that are exhibiting bullish momentum as the month of March gets underway. You may want to consider buying these assets when the bull rally draws near.

Prime Memecoins Selections for the Impending Bullish Surge

Shiba Inu (SHIB)

The original “Doge killer” token, Shiba Inu, has shown to be a meme cryptocurrency that endures. When the currency reached an all-time high of $0.000080 in 2021, it shot to prominence. With Shibarium, a layer-2 scaling solution based on Ethereum, Shiba Inu asset seeks to increase the uptake of SHIB.

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Memecoins to Watch: Top 5 for Potential Bull Run Opportunities 9

Undoubtedly, one of the most well-liked memecoins, Shiba Inu has a thriving community. It has struggled to break beyond the $0.00001 barrier level, but it is currently trading at $0.00002066, up 44% over the last day. In just one week, the asset has increased by 115.39% thanks to the current rally.

PEPE

Since Dogecoin and Shiba Inu, PepeCoin is considered by many to be one of the most successful memecoins. In April, this coin had an increase of over 10,000%, attracting the interest of major financial media such as CNBC. It served as a warning to the rest of the globe that cryptocurrency is still a lucrative business, even in the midst of the current crypto winter.

Memecoins
Memecoins to Watch: Top 5 for Potential Bull Run Opportunities 10

As of this writing, PEPE’s value is $0.0000238, up 238.6% over the previous week and 15% over the previous 24 hours. PEPE may still be able to offer additional uptrend with its current outlook.

Dogecoin (DOGE)

The first memecoin was introduced as a joke in 2013 and is called Dogecoin. The memecoin has no cap on the number of $DOGE tokens that may be mined, but it utilizes the same source code as Bitcoin.
Dogecoin, according to many, is the money of the future, even if its tokenomics don’t appear like they would hold value. With the token, anyone may send money rapidly and cheaply to anyone, anywhere in the globe. It may be even more effective than Bitcoin for transferring tokens across wallets.

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Memecoins to Watch: Top 5 for Potential Bull Run Opportunities 11

With a 10.76% gain in just one day to $0.1384, the coin is demonstrating its leadership. Its market cap has also increased to $19,865,600,592. Dogecoin’s price has surged by 61.03% in the last week, indicating the ecosystem’s ongoing optimism.

BONK

50% of the whole supply of BONK, another memecoin rooted in Solana and created by the people, will be airdropped to the Solana community. The Bonk contributors intended to create a lighthearted memecoin where everyone has an equal chance since they were sick of the nasty “Alameda” tokenomics. Bonk has increased by 11% in the last day. As a result, its market capitalization increased to $1.65 billion and its weekly gains reached almost 100%.

Memecoins
Memecoins to Watch: Top 5 for Potential Bull Run Opportunities 12

BONK, whose growth is strongly linked to the Solana upshoot, has grown by 4.07% in a day to reach $0.0000238. BONK’s price has surged by 103% in the last week, highlighting the overwhelming stance that its bulls have taken.

Floki Inu (FLOKI)

Following the tremendous popularity of $SHIB in 2021, a number of meme currencies with a Shiba Inu motif were introduced, including Floki Inu. Elon Musk’s dog, Floki, is named after a Norse god, which is how this token received its name.

Memecoins
Memecoins to Watch: Top 5 for Potential Bull Run Opportunities 13

Fun is at the heart of $FLOKI. Even though this token has no practical use, memesters are still adopting it. In the weeks following its launch, the token’s value increased by almost 7,000%, and its trading volume reached $225 million. Floki joined the current uptrend and surged to $0.0001126, rising 84.36% in a day and more than 220% in the previous week. The market capitalization of Floki is $1,045,837,454.

Solana Meme Coin Dogwifhat (WIF) Makes Trader A Millionaire Overnight

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An anonymous trader has made his fortune after investing in a Dogwifhat (WIF) meme coin that is run by Solana blockchain. On 26th November 2023, the trader only paid about $310 for those 2.58 million WIF tokens, equivalent to 5.288 SOL, and sold them today at a whopping $1.4 million for a return of over 451,000%.

A tweet from Lookonchain, a blockchain analytics platform, was the first source to report on the transaction, which also stated that this is one of those times when WIF has risen by 50% over the last day in the market, whereupon it commended the trader’s market timing and investment sense.

Dogwifhat is one of many meme coins in the crypto space that came about because of Dogecoin’s (DOGE) popularity, a coin that was originally just a fun thing but ended up being one of the top cryptocurrencies. This dog-wearing hat on its head is featured as the dogwifhat logo, which purports to be “the most sophisticated meme coin ever made.

However, unlike Dogecoin, which operates on its own blockchain, dogwifhat runs on Solana. It is a very fast and scalable chain, thus facilitating smart contracts and decentralized applications. WIF uses some of the functions in Solana, such as lower charges attached to transactions, large scale, and easy relationship with other blockchains so that people trading in it can do so without experiencing any problems.

Dogwifhat Surges: Price Hits All-Time High

Recently, Dogwifhat’s price and market cap have grown significantly, with more investors and traders investing in this coin due to its popularity. As per CoinMarketCap figures, WIF is now changing hands at $0.6267, representing a 46.77% gain over the past day and a 67.74% rise over the last month. Alongside that, it hit an all-time peak of $0.5699 today eclipsing its previous record of $0.6393 on Feb 27, 2024.

WIF 7D graph coinmarketcap
Source: CoinMarketCap

The Dogwifhat’s trading activity is up as well, implying the interest and enthusiasm from the market participants. WIF recorded a 24-hour trading volume of $150,883,220; which is an increase of 185.38% from yesterday. WIF has been listed on various platforms, including FTX, Serum, and Raydium, among others, where WIF can be purchased or sold using other cryptocurrencies.

Dogwifhat’s market capitalization has also grown a lot, increasing by 47.72% from yesterday to $626,107,560 today. In the world of cryptocurrencies, it is now the 117th in terms of market capitalization, overtaking many familiar and well-established coins like Decred (DCR), Zcash (ZEC), and Horizen (ZEN). Furthermore, Dogwifhat is about to cross half a billion dollars in market cap which is very impressive for a meme coin.

Dogwifhat’s impressive performance has attracted the attention of the cryptocurrency community worldwide, as many users are curious and amused by the meme coin’s success. Some users have expressed their admiration and envy for the trader who made $1.4 million with WIF, while others have speculated on the future potential and direction of the coin.

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Crypto Clash Chaos: 24-Hour Price Rollercoaster for BEN and BITCOIN

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The recent showdown between crypto influencer Ben “BitBoy” Armstrong and meme coin developer “More Light” transcended mere physical combat, reflecting the volatility of the digital currency world they represent.

The clash, which took place at a Karate Combat event in Mexico on Feb. 24, saw not only punches thrown but also a tumultuous ride in the crypto market. Prior to and following the bout, the prices of their associated meme coins, Ben (BEN) and HarryPotterObamaSonic10Inu (BITCOIN), experienced significant fluctuations.

In a post-fight interview with local media, “More Light” revealed his spontaneous decision to enter the ring just weeks before the event. Despite his lack of preparation, he found himself facing an unexpectedly fierce opponent in Armstrong.

More Light admitted,

“I didn’t expect BitBoy to be so amped up. He came out swinging, pulling crazy faces. It caught me off guard.”

The spectacle not only showcased physical prowess but also highlighted the unpredictable nature of the crypto world, where fortunes can change as rapidly as the outcome of a fight. As crypto influencers engage in both digital and physical battles, the line between the virtual and the real continues to blur, reflecting the ever-evolving landscape of decentralized finance and digital assets.

BitBoy’s Crypto Misadventure

In a startling incident last September, crypto luminary Ben “BitBoy” Armstrong found himself entangled with the law during a live-streamed confrontation at his former partner Carlos Diaz’s home. The tense evening unfolded before a riveted online audience, as reported by TWJ.

Armstrong, teasing the livestream earlier, launched into a dramatic tirade upon reaching Diaz’s doorstep. He accused Diaz of holding his prized Lamborghini and alleged ties to the Houston mafia, even claiming threats to his life.

Police intervened, responding to reports of Armstrong’s livestream. Questioned about weapons, Armstrong denied possession. The stream abruptly ended as officers demanded his phone. Audio recordings captured the heated exchange.

Subsequent investigation at the Gwinnett County Sheriff’s Office confirmed Armstrong’s arrest. Diaz later confirmed Armstrong’s presence at his residence, but details post-arrest remain murky.

This incident underscores the volatile nature of the crypto world, where influencers’ actions can have real-world consequences, highlighting the need for responsible behavior amidst digital prominence.

Meme Coin Mania Unleashed As Vitalik Buterin Ignites Frenzy With Playful Cat-Themed Post

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Launching a slew of meme coins across different blockchain platforms, Vitalik Buterin, the influential founder of Ethereum, sparked a buzz in the crypto community with a whimsical cat-themed post. His lighthearted “Let’s meow together” tweet, originally in Mandarin, served as a surprising catalyst, particularly on Solana and Ethereum.

The aftermath of Buterin’s light-hearted message resulted in a flurry of meme coin launches, with some experiencing significant fluctuations in liquidity and price performance. One such example is the “MEOW/WETH” token, which saw a 24-hour price change of -1.44%, accompanied by a trading volume of $78,000. Another coin, named “VITALIKED/SOL,” faced a staggering -100% price change, raising suspicions of a potential rug pull.

The rapid generation and subsequent rug pulls of these meme coins serve as a stark reminder of the inherent risks associated with investing in this niche market. The meme coin industry is known for its susceptibility to hype and influence, often overshadowing fundamental considerations.

Meme Coin Volatility And Caution In The Crypto Landscape

While some traders may capitalize on the volatility for substantial gains, caution is advised as the landscape is rife with potential scams. The meme coin market, characterized by its unpredictable nature, attracts scam artists who may withdraw liquidity without warning.

Despite Buterin’s less frequent social media activity compared to figures like Elon Musk, his influence on the crypto community remains profound. Traders are urged to be vigilant about the impact wielded by crypto leaders and to approach meme coin investments with due diligence. Verifying the liquidity of these tokens, ensuring it is either locked or deep enough to prevent rug pulls, and closely monitoring asset performance are crucial steps for safeguarding investments.

While the meme coin space may allure the risk-tolerant and trend-savvy, it is paramount to acknowledge that not everything that glitters in the Web3 world turns out to be gold. As the crypto market continues to evolve, cautionary tales such as these serve as valuable lessons for all participants.

Dogecoin Surges, Breaking Out of Multi-Year Descent, Hints 30% Gain

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Market analyst Ali Martinez has recently spotlighted the significant potential of Dogecoin (DOGE), drawing attention to its weekly chart, which exhibits a noteworthy breakout from a multiyear descending triangle pattern. Such a breakout is typically interpreted as a bullish signal, and it has captured the attention of many investors and crypto enthusiasts.

Martinez further highlighted the confirmation of a buy signal from the TD Sequential indicator within this timeframe. This affirmation adds weight to the argument that DOGE is gearing up for a potential bullish surge. Given Dogecoin’s innate proclivity for volatility and its dedicated community that tends to prioritize sensationalism over core protocol fundamentals, the odds of a substantial price increase are substantial.

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Source: Ali Charts

At the time of writing, DOGE is trading at $0.06943, showcasing a modest 0.60% gain in the past 24 hours and an impressive 11% increase in the past month. These gains are certainly encouraging, and if the current buying momentum persists, DOGE could achieve its best weekly close for the month, offering further evidence of its bullish trajectory.

Dogecoin’s Parabolic Ride with Bitcoin

Looking ahead, if the predictions charted by Martinez materialize as anticipated, Dogecoin could potentially reach a high of $0.739 in the coming months. However, it’s essential to keep in mind that intermittent corrections are an inherent part of the crypto market, and DOGE is no exception.

Despite the ambitious charted scenario, there’s an even more ambitious long-term goal for Dogecoin – the $1 price target. Achieving this milestone remains the ultimate aspiration for the DOGE community, but whether it will be reached or not is still shrouded in uncertainty.

Dogecoin’s recent performance has been closely aligned with the broader cryptocurrency market trend, particularly tracking Bitcoin’s parabolic run this month. This correlation has been driven by the shared sentiment surrounding the potential approval of a Bitcoin spot exchange-traded fund (ETF). Amidst these positive sentiments, we have witnessed the resurgence of dormant DOGE wallet addresses and a notable increase in Dogecoin whale participation.

These network events suggest that Dogecoin’s bullish breakout may be closer than initially envisioned. In conclusion, while the path forward for Dogecoin is promising, investors should remain cautious and monitor the market closely, as the crypto landscape is known for its unpredictability and sudden changes.

Dogecoin’s Quest for $1: AngeloBTC Sparks Hope Amidst Volatility

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In a recent development, AngeloBTC, a well-known Bitcoin trader and market expert, made a bold prediction in a recent X post about the meme-inspired cryptocurrency, Dogecoin. He has set an ambitious target for the coin, aiming for it to reach $1 per coin. This proclamation has caused a stir among the crypto community, sparking enthusiastic discussions among crypto enthusiasts.

In the initial months of 2021, Dogecoin’s meteoric ascent commanded attention, dominating headlines and capturing the imagination of the financial landscape. A convergence of influential factors fueled its rise, rendering it the most discussed topic in financial circles.

From high-profile endorsements, notably from influential figures like Elon Musk, to a surge in interest from retail investors, each played a pivotal role in its remarkable climb. Additionally, the widespread adoption of cryptocurrencies and the subsequent optimistic market sentiment acted as powerful accelerators, propelling Dogecoin to historic highs.

Dogecoin’s Swift Correction

Nevertheless, this rapid ascent was destined to be short-lived. As the months progressed, the meme coin went through a swift correction, currently plummeting by a staggering -91.39% from its peak. Several factors contributed to coin’s steep downturn, including profit-taking by early investors, concerns over the coin’s intrinsic value and utility, and a broader pullback across the cryptocurrency market.

Dogecoin is trading at $0.06275, marking a 3.44% uptick in the last 24 hours. With a market capitalization nearing $9 billion and a 24-hour trading volume surpassing $296 million, Dogecoin remains a cryptocurrency of substantial interest to traders. Notably, it still positions among the top 10 coins by market cap.

Whether a positive event would cause Dogecoin to reach the $1 mark, a goal it failed to achieve during the last bull market. The cryptocurrency community eagerly awaits the next chapter in the coin’s mysterious story.

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