Dogecoin Rockets Up 10%, Shiba Inu Spikes 5%: What Is Going On?
Posted On October 16, 2024
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are surging, with the former benefitting from social media chatter about Elon Musk heading a “D.O.G.E” department.
What Happened: Dogecoin, Shiba Inu and Dogecoin-themed cryptocurrencies have performed exceptionally well over the past 24 hours:
| Cryptocurrency | Price | Market cap | 24-hour trend | 7-day trend |
| Dogecoin | $0.1256 | $18.386B | +11.2% | +15.1% |
| Shiba Inu | $0.00001875 | $11.04B | +5.2% | +7.2% |
| Department Of Government Efficiency (D.O.G.E) | $0.026 | $25.68M | +122.4% | +152.4% |
Also Read: Dogecoin’s On-Chain Data, Chart Patterns Flash Bullish Signals: This Top Analyst Thinks It’s A ‘Buy’
Trader Notes: Crypto analysts are speculating on the potential impact of a Trump victory in the upcoming U.S. presidential election on certain cryptocurrencies, particularly those associated with the “DOGE” narrative.
Andrew Kang suggests that owning Dogecoin and other meme coins could be “one …
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