Dogecoin Holds Crown as Last Top 25 Memecoin – Can DOGE Outlast the Joke?

Dogecoin clings to its throne as the only memecoin still standing in crypto's top 25 – a shocking feat for an asset born from a Shiba Inu joke. While other joke tokens have crashed and burned, DOGE keeps defying gravity with Elon Musk's tweets as its only lifeline.

The ultimate survivor? Despite zero utility and a founder who walked away years ago, Dogecoin's market cap still dwarfs 'serious' Layer 1 projects. Maybe the real meme was taking crypto fundamentals seriously all along.

Wall Street analysts hate it. Retail traders can't quit it. One thing's clear – in the circus of cryptocurrency, the dog still has the loudest bark.

Dogecoin To Dominate The Memecoin Sector?

DOGE is the original memecoin. The project was launched in December 2013, more than 11 years ago. Over the last decade, DOGE has solidified its position as a solid crypto project. DOGE’s popularity is beyond just the crypto market. It is a known project among the internet meme circle.

According to CoinGecko data, Doge is currently the 9th largest crypto project with a market cap of $33.4 billion. DOGE has faced a steep correction over the last few days, following the market-wide correction. The original memecoin has dipped 5% in the daily charts, 4.5% in the weekly charts, and 12.4% over the previous month. Despite the dip, DOGE has gained 10.3% in the 14-day charts and 116% since August 2024.

DOGE may continue to dominate the memecoin charts over the coming months. There is a spot DOGE ETF under review at the SEC. While the chances of a memecoin ETF being approved are less, the application submission proves the bullishness among financial institutions. If the SEC approves a DOGE ETF, the asset may see a massive spike in institutional inflows. The development could lead to the asset climbing to a new all-time high. DOGE is currently down by nearly 70% from its all-time high of $0.7316.

There is also a lot of talk about DOGE being included in X’s payment feature. X’s owner, Elon Musk, is a very vocal supporter of DOGE. If X includes DOGE in its payment feature, the asset could experience a surge in mass adoption. Such a scenario could further propel DOGE to new heights.