DOGE & SHIB Take the Spotlight - Memecoins Making a Comeback?

Leap year is definitely leaping!

This week has seen barriers broken, levels breached, and many coins overperforming.

While the majority of news has been centred around Bitcoin breaching the $60,000 level, other coins are also rallying.

In fact, the memecoin market cap has increased by over 27% in the past 24 hours.

Recommended Read of the Week: Think Beyond Bitcoin – ETH & SOL Rally on Surge.

Who’s the real winner here? Dogecoin (DOGE) is the biggest gainer of the top 20 digital coins and tokens as Bitcoin’s surge has brought the rest of the market with it.

Dogecoin’s price is up about 14% in the past day, trading now for $0.12144.

 

Source: BitDelta Markets

This makes it the biggest gainer in the past 24 hours out of the largest digital assets.

Did you know? DOGE is the 10th largest cryptocurrency, with a market cap of $15.7 billion.

Now that Bitcoin is surging – with a high possibility of hitting ATH – most coins have been benefiting from the momentum.

DOGE is no exception:

• The coin has made impressive gains
• It has jumped by 33%

 

What is dogecoin (DOGE)?

DOGE is a meme coin, a crypto based on an Internet joke and popular culture amongst traders. It is the biggest and original meme coin, and has originally been created as a joke to poke fun at BTC.

However, the coin grew in popularity (and price!) after Elon Musk pumped the asset on X (formerly known as Twitter) …

At some point, during the 2021 bull run, it had a bigger market cap of many companies on the S&P 500.

Shiba Follows

Following a remarkable month witnessed by Shiba Inu – one of the most renowned meme coins functioning atop the ETH blockchain – the dog-based meme token’s burn rate soared over 30000% today.

At time of writing, the coin’s price noted a jump of 3.8% over the past 24 hours and is currently trading at $0.00001277.

 

Source: BitDelta Markets

Yesterday, the meme coin’s breakthrough above the $0.000014 mark ignited optimism among the community, reflecting the overall advancements and continued burning of SHIB.

With a remarkable 76.63% surge in trading volume within a mere 24-hour period, the meme coin currently remains a focal point of attention.

 

Oops… seems like we’ve forgotten our dog here.

Take it a sign to grab your SHIB on BitDelta today?

Can prices be predicted, though?

Crypto traders believe the meme assets DOGE and SHIB are gearing up for big moves to the upside.

However, some analysts and crypto enthusiasts do not necessarily think either memecoins will return to their ATH.