Dogecoin's Unexpected Surge: Meme Coin Makes a Comeback

Dogecoin (DOGE) has been experiencing a significant rally, outperforming major cryptocurrencies like Bitcoin and Ethereum. The original meme coin has surged to its highest price in nearly a month.

Currently priced around $0.25, DOGE has increased by approximately 20% over the past week, reaching levels not seen since mid-August.

While many top 10 cryptocurrencies have achieved new all-time highs in the last year, Dogecoin has lagged behind, lacking the demand drivers seen by other cryptos. However, this seems to be changing.

Catalysts Behind the Rise

• Treasury Accumulation: CleanCore Solutions, a publicly traded Dogecoin treasury, has begun acquiring significant amounts of DOGE. They now hold over 500 million DOGE, valued at over $125 million.

• Upcoming ETF Launch: The Rex-Osprey Doge ETF (ticker: DOJE) is set to begin trading, marking the first US ETF focused solely on Dogecoin. This will offer traditional investors exposure to DOGE.

Key Takeaways

• Dogecoin has experienced a substantial price increase, outperforming other major cryptocurrencies.
• The surge is attributed to a treasury firm amassing DOGE and the launch of a Dogecoin ETF.
• Market analysts suggest increased confidence in Dogecoin's future, with predictions leaning toward further price appreciation.

Users on Myriad, are projecting a 66.6% chance that DOGE is more likely to rise to $0.30 than fall to $0.15.