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Will Dogecoin Keep Rising the Global Market Cap Rankings and New Meme Tokens Follow

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Many crypto analysts are predicting the onset of another meme coin season, forecasting the top meme coin Dogecoin to display an explosive rally in the coming days.

The Dogecoin price surged to as high as $0.077 today, before retracing marginally to trade near the $0.73 mark. Owing to an 85% jump in its daily trading volume, Dogecoin has appreciated close to 2% today, bringing its weekly gains to 6%.

DOGE’s market capitalization is now firmly above the $10 billion mark currently at $10.4 billion – which reinforces its status as the top meme coin in the world. According to CoinMarketCap, Dogecoin continues to retain its spot as the 9th largest global cryptocurrency and will flip Cardano (ADA) in 8th position if it rallies a further 17%.

With the approval of a spot Bitcoin ETF now imminent, along with the Federal Reserve pausing its monetary tightening, major cryptocurrencies – including Bitcoin – are now set for another bull run.

Indeed, the TOTAL1 indicator – which represents the total crypto market cap – has successfully flipped the $1.3 trillion resistance to support, indicating an oncoming rally. This provides the ideal backdrop for Dogecoin to delete a zero and start moving towards its all-time high of $0.74.

Dogecoin Price Prediction as DOGE Hits $10 Billion Market Capitalization

Popular crypto analyst @rektcapital, who has over 365k followers on X, reveals that Dogecoin has broken out of a multi-year descending channel, which could result in a strong bull rally.

He highlights that the Dogecoin price unsuccessfully attempted to breach this crucial resistance multiple times over the previous months – however, Doge closed the past week above the Channel Top, signaling a strong oncoming buying pressure. He is also not the only one to give a bullish Dogecoin price prediction.

Trader @CryptoTony, who has close to 350k fo

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Author: BeInCrypto Team

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