Why The Dogecoin And Meme Coin Rally May Not Be Over Just Yet

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	15,980,615,668	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

15,980,615,668

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0061	1.36%	0.4557	0.4556	0.4557

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0061

1.36%

0.4557

0.4556

0.4557

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.462883	0.4383	0.4491	0.4496	0.216009 - 0.810200

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.462883

0.4383

0.4491

0.4496

0.216009 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:57:03	1,470.95	0.4557	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:57:03

1,470.95

0.4557

USD

Price x Volume	Volume	Base Symbol	Related Pairs
11,980,498.07	26,557,466.79	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

11,980,498.07

26,557,466.79

Why The Dogecoin And Meme Coin Rally May Not Be Over Just Yet

31/10/2022 5:00pm

NEWSBTC

Dogecoin is still riding the wave of the hype that came with the completion of the deal between Elon Musk and the social media platform Twitter. The meme coin had been able to rally towards six-month highs and broke several major resistance levels along the way. Even now, the rally in the price of the digital asset is expected to continue and in doing so, it will take the entire meme coin sector with it. Meme Coins Follow Dogecoin Over the last week, meme coins have stuck closely to Dogecoin’s rally. While the largest meme coin by market cap had been on the rise, its smaller counterparts had quickly followed. Cryptocurrencies such as Shiba Inu (SHIB) and Dogelon Mars (ELON) had seen good movement as well during this time. Related Reading: Can Elon Musk Influence The Next US Election? The largest meme coins had recorded double-digit gains in what has arguably been the most profitable time for meme coins in 2022. Dogecoin’s market cap had more than doubled during this time and other meme coins had moved up the ladder in terms of their positions in the crypto market. While Dogecoin had reclaimed the 8th position, beating out heavy hitters such as Cardano and Solana, Shiba Inu had also moved to take the 13th position. Dogelon Mars also moved in this time and now sits at 135th according to data from Coinmarketcap. As for Baby Doge Coin, it is currently ranked 223rd by the data aggregation website. DOGE price at $0.122 | Source: DOGEUSD on TradingView.com Meme Coin Season Not Over Now, going into the new week, there has been some lull in the crypto market. This is obvious given most cryptocurrencies are in the red in the last 24 hours since the weekend had come with low momentum and low volatility. However, even though the general crypto rally might be looking at an end, it may not be so early for meme coins. Obviously, the reason for the Dogecoin rally that led to meme coin season was Elon Musk’s Twitter acquisition, and this is despite the fact that the billionaire is yet to lay out his plans for the meme coin and how it fits into his grand plan for Twitter. Musk had previously proposed the idea of adding DOGE to the Twitter “Tip Jar” feature to make it possible for users to tip creators with the meme coin. If this remains part of Musk’s plan now that he is Twitter’s boss, then there is expected to be an even bigger (positive) response from DOGE to this news. Related Reading: Ethereum Devs Try To Leverage Price Surge As Smart Contracts Reach New High Naturally, as Dogecoin rises, so will the rest of the meme coins given what has been witnessed in the market already. So despite the slowdown, there may still be more upward movement in the future of these meme coins. Featured image from Analytics Insight, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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