- Dogecoin has rallied over 140% in the last 7 days.
- DOGE outperforms other major coins.
- The recent rally can be attributed to the anticipation of Dogecoin’s integration into Twitter.
Dogecoin has been performing exceptionally well in the last seven days. The meme coin king has put on a 144% rally, as per the data from CoinMarketCap. DOGE has outperformed all major coins in the crypto market.
Elon Musk put out a tweet a few hours back, which triggered another 27% rally today. Musk tweeted a dog picture with a Twitter logo t-shirt and a Halloween pumpkin carved with the Twitter logo. DOGE immediately started reacting to the tweet, and it seems like the rally is not over yet.
pic.twitter.com/eaIYaDRBnu— Elon Musk (@elonmusk) November 1, 2022
DOGE is currently trading at $0.1505 with a 28% rise in value over the last 24 hours. With its current market cap of $19.2 billion, it has outperformed Cardano and Solana.
In recent months, Dogecoin’s price has been moving in loops. But because DOGE is one of Elon Musk’s favorite cryptocurrencies, the meme coin saw some buzz after his takeover of Twitter.
The price increase is also related to the potential and rumors surrounding the inclusion of DOGE as a form of payment within Twitter. Several holders are now making money thanks to the recent price increase.
The Dogecoin Millionaire, also known as Glauber Contessoto, tweeted about the rising DOGE price. In a tweet, he claimed to be a “half-millionaire.” In April 2021, Contessoto attained the status of millionaire Dogecoin user. However, he nearly lost it all as DOGE and other significant cryptocurrencies plunged into a bear market.
However, if Musk potentially incorporates DOGE into the social media behemoth, it can definitely drive the price of the meme coin higher.
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