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

As the price of Bitcoin exceeded $64,000, the entire cryptocurrency market also showed an overall upward trend. Among the top 50 cryptocurrencies by market capitalization, the most eye-catching one is the meme coin Dogecoin ($DOGE).

Dogecoin surged nearly 40%

According to CoinGecko data, the price of Dogecoin soared from less than 0.1 US dollars yesterday to more than 0.13 US dollars today, with the highest price reaching 0.1335 US dollars. It hit a new high since October last year.

In the last 24 hours, the price of Dogecoin has increased by 39.1%, and the market value has exceeded $19 billion, thus rising to 10th place in the cryptocurrency market rankings, surpassing AVAX, which is 11th place Up to $3 billion.

Significant fluctuations in the price of Dogecoin have triggered a large number of liquidation operations in the market. According to Coinglass data, in the past 24 hours, the liquidation amount of Dogecoin has reached as high as 50.1 million US dollars, ranking second only to Bitcoin and Ethereum.

The meme coins of various chain dog series have skyrocketed

Affected by the rise in the price of dogecoin, various dog-themed cryptocurrencies have increased in different areas. Blockchain networks are showing clear gains. For example, Shiba Inu coin SHIB soared 32.7%, and its market value ranked among the top 20 cryptocurrencies; Meme coin BONK on the Solana blockchain experienced an astonishing increase, soaring 50.9%; and HuskyAvax on the Avalanche network also performed well, with an increase of 33.8%. These figures show that the dog Meme coin has attracted much attention in the cryptocurrency market, and investors are full of expectations for its performance.

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

Dogecoin is a virtual currency based on the spirit of Internet culture and entertainment. It was founded in 2013 by Billy Markus and Jackson Palmer. Initially, Dogecoin was created as a playful tongue-in-cheek way of teasing and satirizing the then-serious and speculative cryptocurrency market. The coin's design was inspired by popular dog memes and memes on the internet, and has quickly become a hit among social media and online communities. The founder of Dogecoin did not do it for commercial purposes, but as a way to ridicule the cryptocurrency industry. After Tesla CEO Musk mentioned Dogecoin many times, this encryption The popularity and price of the currency increased rapidly. In early 2022, Musk announced that Tesla would begin accepting Dogecoin as a payment method, and the planned super charging stations would also support Dogecoin payment. This move not only improves Dogecoin’s utility, but also further increases its recognition 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 Lots of Dogecoins and not selling any of them 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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