This week has been nothing short of extraordinary for the cryptocurrency landscape, particularly driven by the largest player in the market, which has consistently reached new heights, with a recent peak just hours ago.
The overall cryptocurrency market cap hit a notable high, exceeding $3.1 trillion. However, the most astonishing price movement is coming from a different asset—the biggest meme coin by market capitalization.
CryptoPotato has frequently highlighted Dogecoin’s price surges throughout the past week, and its performance has been so remarkable that it warrants reiteration. DOGE traded at $0.166 last Tuesday, coinciding with the US election day, and then began to explode in value as Trump secured a substantial victory.
With Elon Musk’s connection to the president-elect and the anticipated formation of the Department of Government Efficiency (D.O.G.E), which Musk is expected to lead, Dogecoin skyrocketed to $0.2 within a matter of days.
This surge was merely the beginning, as the cryptocurrency continued to rally from Saturday, ultimately more than doubling its price to reach $0.42 earlier today—its highest valuation since the bull market of 2021.
Additionally, Dogecoin has now claimed its position as the 6th-largest digital currency by market capitalization, surpassing both XRP and USDC in the preceding days.
Simultaneously, Bitcoin (BTC) has been on a remarkable trajectory of its own, rising from $68,000 on election day to nearly $89,000 earlier today, marking a new peak. However, despite this impressive gain of over twenty thousand dollars within a week, Bitcoin’s achievements have been somewhat eclipsed by DOGE’s performance.
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