Dogecoin (DOGE) Up by 30% in 7 Days: Possible Reasons

Dogecoin (DOGE), the largest meme cryptocurrency by market capitalization, saw an incredibly successful week. As meme coins benefit the most from the crypto recovery, Dogecoin (DOGE) became the best performer amid all large-caps. TON-based meme cryptos are leading the way in the small-cap scene with up to 70% overnight gains.

Dogecoin (DOGE) adds 30% in week, market cap hits $30 billion

Dogecoin (DOGE), the first mainstream meme coin and the largest asset of this type, registered an almost 30% price increase in the last seven days. The dog-themed crypto became the best weekly performer in the top 30 while its capitalization exceeded the $30 billion mark.

Image by CoinGecko

Today, on Nov. 9, 2024, the DOGE price reached $0.21605, which is the highest in more than seven months. Its market capitalization peaked at the $30.9 billion mark.

Dogecoin's (DOGE) price surged following the announcement about the acquisition of Dogecoin Holdings by Spirit Blockchain Capital. Dogecoin Holdings is a corporation tasked with the implementation of Web3 solutions based on the Dogecoin (DOGE) blockchain.

Being an early proof-of-work cryptocurrency, a fork of Litecoin (LTC), Dogecoin (DOGE) by default lacks smart contracts functionality (programmability). As such, the major milestone for Dogecoin Holdings might give its adoption a boost.

In the top 100 cryptocurrencies, the meme coin segment is sending mixed signals. Neiro (NEIRO), the first-ever meme coin whose contract was created by AI, added over 65% in one week. Its market capitalization exceeded $1 billion.

By contrast, Popcat (POPCAT), the largest cryptocurrency in the "Murad's meme coins" list, is among the few coins that closed this amazing week for crypto in red — together with Mantra (OM), Tron (TRX) and Kaspa (KAS).

TON meme coins making comebacks; HMSTR leads parade

The optimism of the Dogecoin (DOGE) community is even more catalyzed by bullish DOGE price prediction shared by macro economist Raoul Pal.

Amid all meme coins, TON-based cryptos are demonstrating the most impressive daily gains. HMSTR, the core native cryptocurrency of the overhyped tap-to-earn Telegram app Hamster Kombat, jumped by over 66% in 24 hours as whale activity increased.

Dogs (DOGS) and Resistance Dog (REDO) are up by 26-27% each, while Notcoin (NOT), the largest TON meme crypto, added 16%.