CandleFocus Dogecoin (DOGE) price up as meme coins rise
2024-10-18
Author: Content Editor
Dogecoin experienced a surge in price as the broader crypto market saw optimism, with Bitcoin surpassing $68,000. This rise may be attributed to fresh positive sentiment after comments made by Tesla CEO Elon Musk. Dogecoin ranked as the best-performing coin among the top 100 cryptocurrencies by market cap, with a 10% gain in 24 hours. The meme coin market cap also increased by 3.6% to $62 billion, suggesting a potential bullish flip for crypto. Some analysts believe Dogecoin could see further gains and a potential breakout, pointing to a "textbook" falling wedge breakout. Musk's previous support for Dogecoin, including adding it as a payment option for Tesla, adds to the speculation surrounding the coin's rise.
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