Dogecoin's recent rise has caught the attention of many within the cryptocurrency ecosystem. Dogecoin's animal instinct has been palpable in recent days as the canine-centered token preserves its vivacious rise that has dashed into the highest it has ever recorded since May. In the early hours of today, Dogecoin marked a staggering 105% weekly yield. Despite a 3.6% drop in the last few hours, the yield has been fine-tuned to 99% in the last few days.
Read: Dogecoin (DOGE) Sees 20+% Price Increase In Just 24 Hours
Dogecoin Explodes 105% In Last 7 Days - What Can Stop This Animal?
Regardless of the 3.6% drop, DOGE presently trades at $0.119 in the assessment report revealed by Coingecko. It records a biweekly spike of 103.3% and a month-to-date increase of 94%. It only lasted a short time at the $0.0140 pointer before returning to an average value correction juncture.
On the 25th of October 2022, Dogecoin kicked off a rally after the news of the crypto market's escape from its slump broke into the space. Then it sustained a high-flying rise after the completion of Elon Musk's acquisition of social media shark Twitter for a whopping sum of $44 billion. In the last few days, Dogecoin has performed very well, and this is not only attached to its spot trading value department; it has been generic. Thus, it is having a bullish spell.
Interestingly, Dogecoin overtook Cardano as it currently ranks as one of the top 10 virtual tokens according to market capitalization. It ranks as the 8th best cryptocurrency in the world. It now has a market capitalization of $16.468 billion, more than doubling its previous market capitalization of $8.1 billion prior to its incredible rise.
Rated higher than Solana and Cardano, Dogecoin's animal instinct seems to be unstoppable. In the department of exchange quantity ensuing across multiple crypto exchanges, Dogecoin records an above-par performance compared to some other not-so-doing-well altcoins. In the coming days, the propensity for a higher increase is perceivable considering Twitter's new owner, Elon Musk. Let us know what your thoughts are in the comment section.
