Dogecoin (DOGE) worth up as meme cash rise

• Dogecoin worth spiked double-digits in 24 hours to hit its highest degree in shut to a few months.
• DOGE worth broke above $0.13, above ranges seen in July as a number of meme cash surged.

Whereas the meme coin’s worth rose amid broader optimism within the crypto market, which had Bitcoin above $68k, its seemingly Dogecoin benefited from contemporary upside sentiment following newest feedback by Tesla CEO Elon Musk.

Per knowledge from CoinMarketCap, DOGE ranked as one of the best performing coin among the many prime 100 cryptocurrencies by market cap on Friday morning. The dog-themed meme coin’s 10% in 24 hours acquire got here as Popcat, Mog Coin, Floki and cat in a canines’ world all surged.

On the time of writing, the worldwide meme coin market cap was up 3.6% to $62 billion, seemingly indicating a bullish flip for crypto is establishing.

As Dogecoin worth eyes additional good points, crypto analysts are suggesting a possible breakout in on playing cards.

Crypto dealer Hardy says DOGE has seen a “textbook” falling wedge breakout and may very well be in for a wild run.

$DOGE, the meme king is waking up! A textbook breakout from the falling wedge. 🚀

I’m eyeing dips to construct a stable lengthy place.

Buckle up issues might get wild 🔥 pic.twitter.com/fmzQhrHKsD

— Hardy (@Degen_Hardy) October 18, 2024

DOGE spikes amid Musk remark

Donald Trump has beforehand famous that he’s open to X proprietor and Tesla CEO Elon Musk becoming a member of his cupboard if Trump wins the upcoming election. This specific place is the brand new Division of Authorities Effectivity, or abbreviated to ‘DOGE’.

In feedback made in Pennsylvania, Musk replied to a query associated to the potential of him becoming a member of the brand new docket by mentioning “DOGE”. Though not explicitly in regards to the meme coin, it’s notable that Musk has beforehand supported Dogecoin.

Tesla even added the meme coin as a fee choice for its EVs. DOGE worth reached an all-time excessive of $0.73 in Could 2021.