Dogecoin's run has slowed recently, but the top memecoin is still one of the biggest winners over a seven-day period. The price of DOGE is $0.15, according to CoinGecko data. That's an increase of nearly 65% for the week.
Earlier today, the 10th biggest digital asset had reached a high of $0.18—meaning it had doubled in price. But it has since lost those gains as the crypto market tumbled earlier this morning in the afterglow of a new all-time high price for Bitcoin.
Elsewhere, Shiba Inu (SHIB), is up even more over the past week: The 11th biggest digital asset by market cap has risen by over 196%.
When Bitcoin hit new heights today following a phenomenal run, it has brought the rest of the crypto market with it—particularly meme coins. The highly volatile digital assets based on Internet memes and jokes have shot up more than other, more serious coins and tokens.
Elsewhere, Pepe is up over the week by nearly 130%. While Bonk, a Solana-based meme token, has doubled its price.
The price of meme coins and tokens are known to drop as quickly as they rise, though, and it can be difficult to cash out gains. The entire crypto market plunged earlier this morning Eastern Time just after Bitcoin (BTC) set a new price record on Coinbase.
Unlike BTC, DOGE is still well below—by nearly 80%—its May 2021 all-time high of $0.73. And SHIB also has to increase by over 60% to touch its glory days from the 2021 bull run.
Source : Decrypt / March 6, 2024