Dogecoin (DOGE), the King of meme coins, has been surging lately. Though the Dogecoin price slumped a little today, its weekly gains remain over 100%. The main reason for this latest crypto news is the recent victory that Elon Musk has attained against Twitter. This is due to the fact that Musk has been supporting DOGE for a while now, which has impacted the Dogecoin price several times.
The official website of this meme coin states that:
“At its heart, Dogecoin is the accidental crypto movement that makes people smile! It is also an open-source peer-to-peer cryptocurrency that utilises blockchain technology, a highly secure decentralised system of storing information as a public ledger that is maintained by a network of computers called nodes. More than this, though, is the ethos of Dogecoin, summarised in the Dogecoin Manifesto, and its amazing, vibrant community made up of friendly folks just like you!”
The Dogecoin crypto is a result of a popular joke but still managed to gain immense popularity. In addition, many cryptos were launched subsequently taking inspiration from it, the topper in the list has to be DOGE-rival Shiba Inu (SHIB).
Dogecoin Price Today
According to CoinMarketCap, the Dogecoin price was declining by 0.43% and traded at $0.1226 at the time of writing on Friday, October 27, 2022. The Dogecoin market cap stood at $16.27 billion, down by 0.46%. Moreover, the 24-hour trade volume plunged considerably by 57.20% and was at $6.1 billion. The day’s peak was recorded at $0.1309 and the 7-day gains of the coin stood at a huge 101.52% despite crypto crash sessions. Further, the 7-day chart shows how Dogecoin had been gaining all this while. The little downfall today does not affect it much.
Moreover, the crypto aced from the 10th position in the crypto market to securing the eighth position as other cryptocurrencies in the top 10 list were losing value while DOGE rallied. This is one of the most significant achievements that the crypto has registered until now. The Dogecoin price prediction for this year is pegged at $0.139 currently.