The Dogecoin mania started last year when the meme cryptocurrency first made its debut. However, for now, the altcoin has gained a dedicated cult following with the recent attention that it is getting from social media accounts. At the peak of the crypto market, Dogecoin was valued above $0.73. However, as time passed and the entire market started to go in correction, Dogecoin retracted by 78%.
In the last three months, Dogecoin remained in the trenches, but technical indicators show that it is time for another bull rally for the satirical cryptocurrency. For the time being, the total market cap of cryptocurrencies has reached close to $2 trillion once again. In comparison to its parallel currencies, Dogecoin has started to move faster and get back the lost value. At press time, DOGE is valued at $0.28 per unit.
Shiba-Inu Token Price also Increases
Data projections shared by CoinGecko indicate that Dogecoin is up by 12% in the last 4 hours. Shiba-Inu has surged by 9% in the same time frame. In terms of weekly appreciation, Shiba-Inu seems to be doing well with a 30% climb, whereas Dogecoin gained a 24% price volume with seven days’ performance.
The top coins in the crypto industry had a good run, but they are behind Dogecoin in terms of percentage growth. Bitcoin rose 21%, and Ethereum was appreciated by 29% in a matter of a week. Short-term gains for Dogecoin are better than most altcoin alternatives thus far. However, Dogecoin is still 63% down in comparison to its ATH.
Both rise and fall of the Dogecoin price point this year have been exceptional and greater than any other cryptocurrency. Despite a mega loss, DOGE has been able to retain its position in the top 10 ranks, trading just below ADA and XRP. Cardano is one of the altcoins that was able to rally as much as 21% in the last 4 hours. This new interest of investors in ADA is coming from the introduction of smart contract-based upgrades.
Polygon network is a multi-layer scaling protocol that offers investors MATIC tokens. Both Cardano and Polygon ecosystems are trying to challenge Ethereum to become the best DeFi supporter network and Dapp operator.