Dogecoin and Shiba Inu, two well-known meme coins, are on a tear, with over 123% and 25% gains in the last seven days, respectively. Simultaneously, Tamadoge, a meme coin that has been in the spotlight for some time now, has risen nearly 30% in the last seven days; can this sleeping giant meme coin overtake Dogecoin and Shiba Inu?
Let’s find out!
Dogecoin (DOGE) is Up 123%
Dogecoin’s current price is $0.13996, with a 24-hour trading volume of $7.7 million. Dogecoin has increased by over 11% in the previous 24 hours. CoinMarketCap now ranks #8 with a live market cap of $18.5.
An image of a Shiba Inu released by Musk revived the “Elon Musk Effect,” sending the price of Dogecoin shooting up by 12% almost instantly.
Dogecoin’s price rose last week as word spread of progress on the Twitter partnership. As a result, the value of the meme currency surpassed that of Cardano. Dogecoin has increased in value by 170% from October 22nd, with today’s top price of $0.1579 representing a 27-week high.
There have been whispers that Dogecoin will play a role in Musk’s ambitions for Twitter as he works to make his vision a reality.
According to Santiment, Elon Musk is pushing the boundaries of his power and undoubtedly having a blast with his new toy, Twitter. It has been a long time since one of his tweets caused DOGE to spike by 10–20% in a matter of minutes, but that moment has come once again.
This reaction, however, was expected, but the point of concern is the uncertainty about when this bullish rally will end.
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