Dogecoin Surges 6%—Leapfrogs Ethereum and XRP in Market Cap Shakeup

Meme coin defies gravity—again—as DOGE’s latest pump leaves ’serious’ blockchain projects eating dust. Retail traders pile in while institutional investors clutch their risk models.

How it happened: A mix of Elon Musk tweets, futures liquidations, and that peculiar crypto-market alchemy where ’number go up’ becomes self-fulfilling prophecy.

The fallout: ETH and XRP maximalists now forced to explain why a joke currency with an inflationary supply somehow outmaneuvered their ’sound money’ narratives.

Bonus cynicism: Wall Street analysts currently revising their ’DOGE = worthless’ reports—right after executing their buy orders.

In brief

• Dogecoin surpasses ethereum and XRP with a 6% increase in 24 hours.
• Crypto whales accumulate 100 million DOGE in one day.
• 21Shares and Bloomberg are targeting a Dogecoin ETF by the end of 2025.

Dogecoin Outperforms the Market Giants

On May 1st, the Doge price was moving, marking a nearly. During this period, Ethereum and XRP did not keep pace, leaving Dogecoin to earn the label of ““. However, trading volume dropped by 11%, suggesting that this rise happened quietly. No matter: “Dogecoin is forming higher and higher lows“, announced an analyst.

Overall,. Analyst Thomas Anderson mentions a “rising wedge formation” on the 30-minute chart, a pattern often signaling sharp increases. If DOGEand its 200-day moving average, the path will be clear.

Whales and ETFs to Stoke the Flames

Confidence is returning, and crypto whales are not mistaken. Theevokes bullish precedents. According to Ali Martinez, this type of movement “often precedes significant price increases“. Another catalyst: persistent rumors surrounding a Dogecoin ETF. 21Shares claims the memecoin “is no longer just a joke“, and their simulations show a notable improvement in portfolios integrating 1% DOGE.

Bloomberg even estimates an. If this materializes, institutional interest could propel Doge to new heights.

Technical Analysis: Toward an Imminent Breakout?

Technical indicators also suggest a trend reversal. The tweet from @TATrader_Alan reinforces this view:

The current OBV pattern on DOGE/BTC reflects that seen before the October 2024 rally.

The indicators therefore point to a possible breakout. However, obstacles remain. DOGE must first reclaim the $0.22 level, which corresponds to its 200-day exponential moving average. If it fails,may occur. But if history repeats itself, a significant increase in trading volume could fuel another price surge for the memecoin.

In conclusion, Dogecoin is not alone in rekindling the flame. BONK, another notorious memecoin, recently showed it also counts among the attendees with a 60% increase in one week. Skeptics who judged the memecoin era over may have to swallow their cynicism. In the crypto universe, the stage remains open, and Dogecoin, the old market comedian, seems ready to improvise a new act.

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