Despite the current momentum of the entire crypto market and all the pump and dumps, Elon Musk’s favored cryptocurrency, Dogecoin, has succeeded to keep its recent surges. Unlike other highly on trend cryptocurrencies like Bitcoin and Ethereum which failed to register their price increases, DOGE has managed to put an end to the rumors about its price.
The popular memecoin has recently been the headline of many news with the most famous millionaire of the world, Elon Musk, publishing several tweets regarding Dogecoin (DOGE) leading to its value plunging noticeably.
Now the new headline is, Doge has soared in price but its on-chain analysis from Santiment revealed that the volume over the last 24 hours did not pick up as it was a 0.45% decline.
Doge’s closest competitor, SHIB, has also shown a surge more than 34 percent on Monday and is currently the most trending digital asset on the crypto information generator coinmarketcap.com, however, failed to remain so.
World's most widely known and popular memecoin, Shiba Inu, has had the same surge in price the recent week but failed to match up. DOGE, which had seen a 15.93% rise to be traded at $0.088 in the past 24 hours, has now had a slight 6.61% fall with the DOGE price holding at $0.08123. However, DOGE’s seven-day run remained at a 22.45% increase compared to SHIB’s 29.85%.
With more pump in the volume of Dogecoin ecosystem, chances are high that DOGE hits a 40% rally in the third quarter (Q3).
According to CoinGecko, Doge has moved into the top 10 most valuable cryptocurrencies by market capitalization, making people trade and buy Dogecoin more than ever before.
Nonetheless, we can not underestimate the DOGE community as more price plunges are still possible or the asset.