The market is witnessing a magnificent explosion of memecoins today, November 11th. Some meme coins are experiencing epic highs with gains of over 20% in the last day, such as Dogecoin (DOGE) and dogwifhat (WIF).
Following the recent development of Bitcoin, most major cryptocurrencies are showing significant increases in their prices. The Bitcoin price today, November 11th, 2024, is experiencing a historic high that has elevated the largest cryptocurrency to a new level, established after recently breaking the $82,000 barrier for the first time. Currently, the largest cryptocurrency is being traded around $82,416.05 with a daily increase of almost 3% in the last 24 hours. Over the past week, Bitcoin has been breaking consecutive price records, with the latest one registered just a few hours ago.
The recent price increase has raised the value of the cryptocurrency market to $2.929 trillion. Similarly, the market capitalization of memecoins today is $100 million, representing a difference of 23.6% in the last 24 hours.
The biggest memecoin on the market, Dogecoin (DOGE), has experienced an impressive increase that has caught the attention of cryptocurrency enthusiasts after rising more than 21% in the last 24 hours. At the time of publication, the price of DOGE was quoted at $0.2903 with a 19.3% increase in the last 24 hours. Over the past 30 days, Dogecoin has seen an epic increase of 161.8%.
Among the main meme coins, Shiba Inu (SHIB) and dogwifhat (WIF) have also stood out with increases of 12.3% and 20.8%, respectively. In addition, POPCAT has seen a 14.9% increase and cat in a dogs world (MEW) has risen by 13.5%.
The memecoin market has also witnessed the explosion of Peanut the Squirrel (PNUT) and Act I The AI Prophecy (ACT) with increases of 331.4% and 1820.5%, respectively.
Dogecoin (DOGE) Explosion: Price Predictions Point to 1200% Jump
Dogecoin (DOGE), one of the most iconic tokens in the cryptocurrency market, continues on a remarkable trajectory. The meme coin, which has already accumulated a gain of over 45% in recent days, is positioned to potentially reach an additional 50% increase.
This optimism surrounding DOGE stems from a combination of its recent performance, growing interest from traders and investors, and positive indicators from on-chain analysis.
Renowned cryptocurrency analyst Ali recently tweeted a bullish outlook for Dogecoin. He said, ‘#Dogecoin $DOGE is about to enter a parabolic phase! Based on historical patterns, the upside potential could be between levels 1.618 and 2.272, which would correspond to a price range of $3.95 to $23.26.’ This prediction puts Dogecoin in a prime position for potential significant upside in the near future.
Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Tags: Cryptos, Dogecoin (DOGE), memecoins
