Dogecoin’s price rose by 115% in the past week, defeating major cryptocurrencies
Dogecoin (DOGE) has been growing impressively over the past few days. According to information Provided by CoinMarketCap, the price of DOGE is up almost 115% over the past week.
Moreover, the popular memecoin is trading at $0.129 at the time of writing, up by 7% in the last 24 hours, per CMC data. Billionaire CEO Elon Musk’s favorite crypto asset outperformed the top cryptocurrencies — including Bitcoin (BTC) and Ethereum (ETH) which are up by 6.5% and 19% in the past week.
With this bullish momentum, DOGE reversed two of the so-called “Ethereum killers,” Solana (SOL) and Cardano (ADA), making it the 8th largest digital currency by market cap. According to CMC figures, Dogecoin has a market cap of approximately $17 billion at the time of this writing.
Community and billionaire support
With Musk’s Twitter acquisition, some of the top Dogecoin fans and investors believe that the popular memecoin might soon be used for payments on the micro-blogging platform.
While Dogecoin millionaires Glauber Contesotto and Matt Wallace are big fans of Joe Musk and the dog-themed coin, Algorand chief technology officer John Woods believes otherwise.
According to a U.Today report, Woods said that it “would be a shame” if Dogecoin is used on Twitter while there are “projects like Cardano and Algorand.”
