Dogecoin

Shiba Inu

Elon Musk

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Today, the digital currency ecosystem is on a downward spiral&nbsp;as the combined crypto market cap has plunged by 1.77% to $1.17 trillion. The market slump is all encompassing, but Dogecoin (DOGE) is exhibiting defined bullish momentum as the only green crypto in a sea of red. The meme coin is up by 8.25% overnight and is trading at a <a href="https://coinmarketcap.com/currencies/dogecoin/markets/" rel="noopener noreferrer nofollow">spot price of $0.0774</a> at the time of writing. 
<img alt="DOGECEO/USD Daily Chart" data-entity-type="file" data-entity-uuid="dff130d0-2e43-42ac-9dec-95ad106d8536" src="https://u.today/sites/default/files/inline-images/DOGE_1D_graph_coinmarketcap%20%281%29_0.jpeg">Dogecoin Price Chart. Source: <a href="https://coinmarketcap.com/currencies/dogecoin/#Chart" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
<a href="https://u.today/dogecoin-doge-eyes-potential-10-upswing-if-this-level-breaks" rel="noopener noreferrer nofollow">card</a> 
Unlike most of the mid-cap capitalized cryptocurrencies it is competing with, Dogecoin has <a href="https://u.today/dogecoin-doge-and-shiba-inu-shib-eye-explosive-dynamics-right-from-start-of-week" rel="noopener noreferrer nofollow">retained</a> most of its gains in the past week with a growth rate of 12.18%. It is not uncommon for Dogecoin to showcase intense volatility, and what is even more impressive about the current run is that the meme coin's trading volume has gone parabolic, jumping by more than 523% to $1.77 billion. 
The increased sentiment that is helping Dogecoin retain its relevance now is that its full integration into Twitter is near. Elon Musk dropped a cryptic message as a hint recently when he changed his bio to X, alongside the Dogecoin symbol. 
These clues show Dogecoin is very relevant and meaningful to both Elon Musk and the X social media platform he just rebranded Twitter into. 
<h2 id="sustainable-momentum">Sustainable momentum?</h2> 
The growth in Dogecoin <a href="https://u.today/dogecoin-doge-forms-rare-pattern-that-might-push-price-20000-analyst" rel="noopener noreferrer nofollow">showcases</a> that the meme coin still has a huge upside in its long-term ambition to touch the $1 price point. While this lofty goal seems quite far away, the DOGE army, as the community is often called, believes this is impossible. 
<a href="https://u.today/dogecoin-doge-leads-meme-coin-rally-heres-why" rel="noopener noreferrer nofollow">card</a> 
One hurdle that must, however, be surpassed is whether or not the growth of DOGE is sustainable in the long term. While <a href="https://u.today/elon-musks-new-tweet-triggers-explosive-dogecoin-doge-pump" rel="noopener noreferrer nofollow">Elon Musk's influence</a> is helping to boost sentiment, remaining attractive to investors in the face of its core rivals, including Shiba Inu (SHIB) and PEPE, is a hurdle that still must be overcome.

Dogecoin (DOGE) up 10% Amid Market's Bearish Dive, Here's Why

Table of Contents

U_Today

Other articles published on Jul 25, 2023

Nym Announces Community Grants Programme to scale the private internet

🚀The ALLBI ✅ IEO starts today

Weekly NFT Activity Sees Ethereum Volume Soar Past $19.6M from 18.8K Trades

Dogecoin Surges, Litecoin Halving Approaches: Cryptocurrency Watch

Le bull run pourrait arriver plus vite qu’on ne le croit

CRT Stock Showed Bullish Trend in Weekly Price Analysis

Join our free newsletter for daily crypto updates!