Dogecoin surged nearly 40%, breaking through $0.13! Dog meme coins are flying together

As the price of Bitcoin exceeded $64,000, the entire cryptocurrency market also showed a general upward trend. Among the top 50 cryptocurrencies by market capitalization, the most eye-catching performance is Dogecoin ($DOGE), the ancestor of Meme coins.

Dogecoin surged nearly 40%

CoinGecko data shows that Dogecoin soared from less than 0.1 US dollars yesterday (28) to more than 0.13 US dollars today, reaching a maximum of 0.1335 US dollars. , hitting a new high since October 2022. In the past 24 hours, Dogecoin has surged 39.1%, with its market value exceeding US$19 billion, ranking 10th in the cryptocurrency market value rankings, surpassing AVAX, which ranks 11th, by US$3 billion.

The violent fluctuations in the price of Dogecoin triggered a large number of liquidations in the market. According to Coinglass data, Dogecoin’s liquidation amount reached $50.1 million in the past 24 hours, second only to Bitcoin and Ethereum.

The dog Meme coins on each chain have skyrocketed

Affected by the increase in the price of Dogecoin, the dog Meme coins on each public chain have surged. For example, the Shiba Inu coin SHIB has increased by 32.7%, and its market value has entered the top 20 currencies; the Meme coin BONK on the Solana network has experienced an astonishing increase, soaring 50.9% in one fell swoop; and HuskyAvax on the Avalanche network has also performed well. , an increase of 33.8%. These figures show that the Dog Meme coin has attracted considerable attention and investment enthusiasm in the cryptocurrency market, and investors are optimistic about its prospects.

How Dogecoin climbed to the throne of Meme coins step by step

Dogecoin is a cryptocurrency based on Internet pop culture and humor elements. It was founded in 2013 by Billy Markus and Jackson Palmer . Initially, Dogecoin was a light-hearted entertainment concept designed to use humor and irony to provoke the serious and speculative cryptocurrency market at the time. This digital currency was born out of a playful attitude towards the virtual currency field, but over time, Dogecoin gradually gained more recognition and attention and became a unique and popular digital asset. . Although

, after Tesla CEO Musk mentioned Dogecoin many times on X, the popularity and price of Dogecoin increased accordingly. In early 2022, Musk announced that certain Tesla products would accept Dogecoin as a method of payment, and the super charging stations it planned to build would also allow Dogecoin payment. This move not only increases the utility of Dogecoin, but also further enhances its acceptance in mainstream society.

Following Tesla, Musk quickly announced that his aerospace company SpaceX would soon accept Dogecoin as payment for some goods and services. Even its satellite launch plan was named "Doge-1", and Being funded by Dogecoin further incentivizes Dogecoin’s price and popularity, as well as Dogecoin’s potential as a means of payment and funding tool.

Since then, Musk has continued to support Dogecoin on social media. For example, he revealed in an XSpace in mid-January this year that he still holds a large amount of Dogecoin and has not sold any. One Dogecoin because Dogecoin is his favorite cryptocurrency. In short, Dogecoin’s rise to the throne of Meme coins is closely related to Musk’s enthusiastic support.

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