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DOGE Reclaims Its Market Cap Ranking From Shib! The Rise of Meme Season?

Author: Qadir AK

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Author

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Highlights

  • DOGE is on the move after a brief period and has reclaimed its throne from SHIB.
  • Netizens contemplate the rise of meme season, following the surge of meme coins. Despite the weakening rally of top-tier coins. 

   The crypto space is receiving overwhelming upswings from meme coins. Which were stagnant a couple of months ago. The space has seen several meme coins following SHIB’s splendid rally. While the chief of meme coins showed not little signs of being awake. However, DOGE is back to the move, grabbing its throne from SHIB. 

The move which DOGE enthusiasts were waiting for long. Section of netizens believe, the trend to be a meme season, something like alt season. As the meme coins overshadow most of the prominent protocols.

DOGE’s Growl on the Market Charts!

   DOGE has made its heroic foray into the market, after its prolonged narrow movement. The coin has surged around 20%, retracing its price to $0.301. Which was hung in the air, ever since the first week of September. DOGE did suffer owing to its lack of utility and plummet during its last run. Meanwhile, fellow meme coins made their presence felt, with their utility on offer. 

DOGE’s northward trajecting spike is piloting enthusiasm amongst enthusiasts. The meme coin at press time is trading at $0.3010 with gains of 27.8%. The market cap of the coin is $39,715,687,024. While the trading volume for a day and a night hovers around $12,481,685,983

The month of Uptomber hasn’t really been up for DOGE, as the price, market cap, and trading volumes have been moving along a narrow range. While its rival SHIB has added virtue to its platform. Meanwhile, netizens believe the leg-up to be a repercussion to an influencer’s mention on a public platform. And ponder over the possibility of liquidations of SHIB flowing into DOGE.    

Is This the End of Shib’s Upswing?

  SHIB started making corrections to its prices, following its leg-up to a new ATH. Inching closer to eating yet another zero from its price tag. The meme coin has been running a hoopers sport of sorts, endeavoring each level. SHIB did claim its tag of Doge-killer, surpassing DOGE’s market cap. Meanwhile, sections do believe the run to have subsided, as the price falls as much as 30% to levels around $0.00006.

However, it would be too early, to make any judgments. As the coin did retrace to levels around $0.000046, after nearing around $0.000058 the previous day. Moreover, SHIB at press time is up by 37.5%, trading at $0.00007426. Hinting at a setback before the new ATH.

Collectively, meme coins have come a long way from where they used to trade at inception. Enticing traders and investors to look out for massive gains. While the fact remains unchanged that the rise and fall of these coins are distant from calculated predictions. Other meme coins are following similar suits, like Baby Doge Coin, and Floki Inu. Which gave out returns of 29.5% and 129.5% respectively. 

On a positive note, meme coins are growing at a faster pace in terms of utility, adoption, and acceptance. Moreover, these coins are bringing in newer investors and traders to the world of cryptocurrency. Helping the space gather newer investors and traders.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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