Dogecoin (DOGE), the first meme token in the cryptocurrency ecosystem, is currently moving upwards in response to the broader market’s downward trend. As of the time of writing, the popular meme token has increased from $0.06368 and has shown an increase of over 5% in the past 24 hours.
The rising trend of Dogecoin, the favorite meme token of investors, could be a new development indicating a highly unusual and sustainable upward trend, considering recent growth trends. Dogecoin’s recent growth is supported by a 57% increase in trading volume, reaching a total of $226,885,971, according to CoinMarketCap data.
In today’s market, which seems advantageous for most altcoins, it is noteworthy to compare DOGE’s current performance with its closest competitors. While Dogecoin has experienced a 5% increase in price, the second-largest meme token, Shiba Inu (SHIB), is also experiencing upward momentum. However, the meme token is moving relatively horizontally with a growth rate of 0.95% and a price of $0.000007513.
Pepe (PEPE), the frog-themed meme token, has also seen an unusual progress, with a price of $0.0000008178, which is above a growth rate of 2.82%. However, this performance falls well below Dogecoin’s level. Will the growth in the first meme token in the cryptocurrency market remain at these levels?
Experts may have to assume that Dogecoin’s growth is finally sustainable. Evaluating this situation with instant data obtained from the current position can be challenging. Despite the market downturn, Dogecoin is showing strong upward momentum, with an increase of over 5% in the past 24 hours. According to CoinMarketCap data, DOGE stands out among other meme tokens with its high trading volume and stable performance.