Dogecoin Surges 50% in 30 Days, Sparking Altcoin Market Rally
1min read Dogecoin's latest price was $0.2318, down 6.404% in the last 24 hours. The cryptocurrency, which started as a joke in 2013, has since evolved into a significant player in the digital currency market. Its appeal lies in its low transaction fees and near-infinite supply, making it ideal for microtransactions and tipping within online communities. Companies like Tesla, AMC Theaters, and GameStop have started accepting Dogecoin payments, adding real-world utility to its appeal. Early adopters who believed in Dogecoin’s potential saw unprecedented returns, especially when Tesla CEO Elon Musk endorsed it repeatedly.
Dogecoin is back in the spotlight after breaking out of its recent downtrend. Historically, DOGE pumps have been the spark that ignites Altseason. Every time DOGE experienced a significant pump in the past, it was quickly followed by a surge across the altcoin market. This phenomenon is tied to increased speculative interest, improved market sentiment, and a flow of capital from large-cap coins like Bitcoin and Ethereum into smaller, high-risk, high-reward altcoins. The latest chart of the Total2 market cap mirrors DOGE’s breakout. Total2 has bounced strongly from its trendline support and is currently pushing toward the upper resistance band of its ascending channel. If this breakout holds, the altcoin market cap could surge toward the $1.7 to $1.9 trillion range, marking one of the biggest altcoin rallies since the bull market of 2021.
Dogecoin is charging towards fresh highs, with recent momentum reinvigorating calls for a $100 billion market cap this year. What started as a meme in 2013 is now one of the most recognized cryptocurrencies in the world, with a place in the top 10 most valuable cryptocurrencies and an active community that keeps pushing it forward. At its peak, DOGE reached a market cap of over $80 billion and now, speculation is growing that it could top $100 billion. After the lows of 2022 and 2023, March 2024 saw a roaring resurgence for DOGE, where it topped at $0.22. While it dipped, that momentum held, with Donald Trump’s return to the White House pushing DOGE from around $0.15 to $0.46 in just over a month, between November and December. That same pattern has repeated, with DOGE tumbling back to $0.14 in April still higher than 2024’s lows and now climbing back out of the trenches. It’s currently up nearly 50% over the past 30 days, making headlines once again.
