It has been nothing short of a spectacular week for the cryptocurrency market, led by the largest of the bunch, which continued to chart new peaks, with the latest coming hours ago.
The total crypto market cap saw a high of its own at over $3.1 trillion. However, the most mind-boggling price surge is coming from another asset – the largest meme coin by market cap.
CryptoPotato repeatedly reported Dogecoin’s price rallies over the past week, but it has been so impressive that it needs to be reasserted. DOGE traded at $0.166 last Tuesday – on the US election date – but started to explode in the following hours as Trump won a decisive victory.
Due to Elon Musk’s involvement with the president-elect and the potential new Department of Government Efficiency (D.O.G.E), which he will spearhead, the meme coin soared to $0.2 within days.
That was just the beginning, as it kept pumping since Saturday and more than doubled its value to soar to $0.42 earlier today. This is by far its highest price tag since the 2021 bull run.
Moreover, Dogecoin has now become the 6th-largest digital asset by market cap, surpassing XRP and USDC in the past few days.
At the same time, BTC is on a roll of its own, exploding from $68,000 on election day to nearly $89,000 earlier today to mark a fresh peak. Nevertheless, bitcoin has been overshadowed by DOGE even though it has gained more than twenty grand in just a week.
Read the full article here
