Why is Dogecoin going up

On the weekly – which closes in 12 hours – DOGE is up 13.8% and up 7.1% in the past 24 hours. Is DOGE a good buy now or other meme cryptos?

Why Is Dogecoin Going Up Today?

In part Bitcoin is bringing the entire crypto market cap up today on its latest rally to an intraday high of $25,000.

Ethereum is also leading Bitcoin going up to as high as $2,030 which is always a good sign for altcoins of all types, whether DeFi, NFT or meme coins (Cardano, Decentraland, Polygon are also performing well either today or this week).

Shiba Inu is the biggest crypto gainer on Binance at the time of writing, the SHIB / USDT pair up 22% today.

There hasn’t been any particular fundamental developments or Dogecoin news recently other than the Dogecoin Core 1.14.6 upgrade from three weeks ago – which at the time felt underwhelming, only addressing minor technical fixes like lowering the dust limit.

Dogecoin even dropped out of the top 10 cryptos around the time of that update, flipped in market cap by Polkadot for the #10 spot – which it still narrowly holds over Dogecoin, up by 8.8% in the past week.

So a large part of Dogecoin’s rally is just the whole market capitalization of crypto rising – the total crypto market cap today via TradingView is $1.16 trillion.

Alternative Dog Cryptos Pumping

As mentioned Shiba Inu is outperforming – potentially due to the beta release of its Shiba Eternity game – play to earn (P2E) crypto games are wildly popular with both gamers and crypto investors.

Also attracting high investor interest selling out its beta sale early is Tamadoge – which has now moved onto the later stages of its presale and has raised $3.5 million in initial seed round funding.

That’s another upcoming P2E game where players will do battle with Doge themed virtual pets mintable as NFTs, combining meme cryptocurrencies’ appeal with non-fungible tokens and gaming.

Its native token TAMA is also deflationary unlike Dogecoin – the total supply of which has inflated from 100 billion when it first started trading to almost 133 billion today.

Dogecoin Price Right Now

Despite the rally this week to a Dogecoin price now of $0.078, DOGE is still down 90% from its all time high on Binance of $0.74 – the Dogecoin price struggled to hold its value with an infinite supply and being inflationary with little utility.

Whether it’s Dogecoin going up today or other alts some notable market commentators on our best crypto traders list are still macro bearish and expecting a retest of the 2022 lows at some point for BTC, ETH, Dogecoin and most crypto assets.

Meme Coin News

Tamadoge - The Play to Earn Dogecoin

Our Rating

  • '10x - 50x Potential' - CNBC Report
  • Deflationary, Low Supply - 2 Billion
  • Listed on OKX, Bitmart, LBank, MEXC, Uniswap
  • Move to Earn, Metaverse Integration on Roadmap
  • NFT Doge Pets - Potential for Mass Adoption