Dogecoin price is among the top performers following this recent rally in the crypto market. Meanwhile, Shiba Inu has followed closely behind and has even blown Avalanche out of the process. This development has led to discussions that the meme coin season may be coming back.
Dogecoin Price and Shiba Inu in the Light
The price of Dogecoin and Shiba Inu are the top movers as they are among the biggest gainers following the recent market rally led by Bitcoin, which is currently trending. all time high (ATH) for $73,000. For context, DOGE is up 28% over the past seven days and 7% over the past 24 hours. Shiba Inu has also enjoyed a 6% price gain over the past seven days and has turned Avalanche into the twelfth largest crypto by market cap.
Dogecoin price and Performance of Shiba Inu has led to discussions that the meme coin season may return. It also brought back memories of the 2021 bull run when top meme coins enjoyed unprecedented prices. The price of Dogecoin increased by more than 26,000%, and the price of Shiba Inu increased by more than a million percent.
With the price of Bitcoin heading for a new ATH, there is a good chance that the meme coin season is once again set to click into full gear. In addition, this cycle has been widely called the meme supercycle, where these categories of altcoins are the leading news. Based on this, crypto analysts are interested Crypto Kaleo predicted that the price of Dogecoin will surpass Bitcoin.
Indeed, thanks to this meme coin season (or supercycle), the value of Dogecoin is already outperforming the leading crypto in this market cycle. DOGE is up 95% year to date (YTD), while the price of Bitcoin boasts a 71% YTD gain. Shiba Inu is also outperforming Bitcoin with a YTD gain of 84%.
DOGE Time May Be Now
I Dogecoin price got off to a slow start during meme coin season earlier this year, while other memes like Dogwifhat (WIF) and Pepe (PEPE) were recording big gains. However, Dogecoin has made up for that slow start with its recent price gains over the past few weeks, seeing how it has outperformed these other top meme coins this time around.
In the past two weeks, the price of Dogecoin has increased by 30% in seven days. This price increase was due to Elon MuskThe Department of Government Operations (DOGE) looks like it will live with Donald Trump who may become the next president of the US. Musk’s coining of the word ‘DOGE’ appears to be an indirect way to support the premium meme coin.
Therefore, the Dogecoin bull run could kick into full gear if Trump wins and Musk continues with DOGE Meanwhile, the Shiba Inu is also making waves, thanks to group efforts. The meme coin flipped Avalanche and is currently on the heels of Cardano and Toncoin to enter the top 10 cryptos by market cap.
The featured image was created with Dall.E, a chart from Tradingview.com
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