Dogecoin Leaps in Value, Reaches First $0.22 Peak Since 2021

The ‘Dog Father’ Reigns: Dogecoin Soars 43.3% in 7 Days Against the U.S. Dollar

The proclaimed ‘Dog Father’ of meme coins, dogecoin (DOGE), has shown a substantial upturn against the U.S. dollar as of March 28, 2024. Throughout the preceding week, DOGE climbed 43.3% in value against the dollar, witnessing a significant trading volume of $6.9 billion within 24 hours. The ascent of DOGE to $0.22 has boosted its market capitalization to over $31.4 billion.
This increase has elevated the cryptocurrency to the rank of eighth largest by market cap. Moreover, this rise has triggered the liquidation of $18.76 million in dogecoin short positions in the last 24 hours. On Thursday, the most traded pairs for dogecoin were USDT, FDUSD, USD, KRW, and BTC. The Korean won accounted for 12.12% of all DOGE transactions, with the coin trading at $0.2323 on exchanges like Upbit and Bithumb.

Within the swiftly shifting realm of cryptocurrency, the comeback of dogecoin signifies the market’s vibrant dynamics. This significant leap not only underscores the lasting endurance of dogecoin but also mirrors the wider market mood, indicating a continuous surge in interest toward meme tokens from investors.
What do you think about dogecoin’s rise this week? Share your thoughts and opinions about this subject in the comments section below.