Hold onto your hats, meme coin enthusiasts! DOGE and SHIB are hogging the spotlight, capturing over 60% of their niche's market cap. These meme coins have been on a wild ride ever since Donald Trump clinched the presidency, and today, November 12th, they hit a jaw-dropping market cap high of over $120 billion. That's a staggering 27% bump in just 24 hours!
Leading the charge is none other than Dogecoin (DOGE), on a bull run that seems to have no brakes. Currently cruising at about $0.40, DOGE has seen a jaw-dropping 260% leap this month alone. Rumor has it that the buzz comes from Elon Musk planning to launch a new division under Trump’s administration. And guess what it's called? The Government of Department Efficiency, or you guessed it, D.O.G.E.
Meanwhile, Shiba Inu (SHIB), Dogecoin's biggest competitor, is wagging its tail with glee. It recently jumped to a seven-month high of $0.00003014 and is now hanging around $0.00002898. This rise is tied to the comeback of the layer-2 scaling solution Shibarium, and a burn rate that’s going through the roof.
But wait, there’s more! Other meme coins are also basking in the glow of success. Check out BONK with a 23% rise, BRETT at 25%, and PEPE with a 20% lift! However, not all are in the green; a few like GIGA, SPX, and MOG have taken a bit of a dip.
The excitement is contagious, with many predicting DOGE could hit new highs soon. Crypto analyst Mikybull Crypto has spotted a “golden cross” on DOGE’s chart, a signal that previously led to a mind-blowing 7,000% surge. If history repeats itself, DOGE might just shoot up to $30!
But let’s keep our feet on the ground. For DOGE to hit such heights, its market cap would need to surpass $4.2 trillion. Right now, the entire crypto market isn’t even there yet, so it’s a tall order. Still, meme coins have a knack for defying expectations. Just remember, they can also head south quickly, so it's crucial to do your homework and only invest what you can afford to lose. Stay smart, and enjoy the meme coin rollercoaster!
