- DOGE has reached a high of $0.28 since November 2021
- It posted a 31% rise over the weekend and a capitalization of $42.3B
- Also, has overtaken XRP in terms of the market capitalization of $33.3B
As the entire crypto market and its flagship Bitcoin experience rapid growth, DOGE is joining the movement.
Over the weekend, DOGE posted a 31% increase to reach a market capitalization of $42.3B, lifting it above XRP with $33.3B.
More on DOGE’s Momentum
It is worth noting that DOGE has yet to reach its all-time high of $0.71 from May 2021, but the current $0.28 is the highest since November 2021.
This is a very good result that reflects DOGE’s growth and we see it showing 31% over the weekend and 155% over last month.
All this allowed it to achieve a capitalization of $42.3B, surpassing a key player like XRP with its $33.3B, and this is more important than it may seem at first glance.
XRP is backed by Ripple, a key player in the crypto industry with many important initiatives and developments, something that DOGE cannot boast of.
However, it boasts another important factor that also makes assets key in the market, namely the personalities behind them and it’s no secret how important Elon Musk is in today’s political and economic situation.
Should we expect this to continue to boost DOGE? Quite possibly, as Elon Musk and his Tesla are now performing amazingly well and up 29% in the last 5 days alone.
Conclusion
DOGE stopped being just a memecoin a long time ago when it started receiving steady support from Elon Musk, the key face of the tech industry in several critical domains.
Of course, we should remain careful with it, as it is much more dependent not on technology but on the personality of Elon Musk, so any inaccurate statement from him can affect the price of the asset among other factors.
However, we see a clear rising trend and could suggest reasons why it may continue. Stay tuned.
