Dogecoin (DOGE) Skyrockets Amid GameStop-Inspired Meme Cryptocurrency Surge

  • With the resurgence of interest in meme coins, Dogecoin, the original meme coin, has seen an 8% increase in the last 24 hours.
  • Other meme coins such as Shibu Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), and Floki (FLOKI) have also seen significant gains.
  • Political meme coins, particularly those themed around former U.S. President Donald Trump, are also on the rise.

As meme coins rally, Dogecoin leads the pack with an 8% increase. Other meme coins and political meme coins, especially those themed around Donald Trump, are also seeing significant gains.

Dogecoin and Other Meme Coins Rally

Dogecoin, the original meme coin, has seen an 8% increase over the last 24 hours, starting Monday at around $0.13 and climbing above $0.15. Other meme coins have also seen significant gains, with the broader meme coin market up 10% on Monday. Ethereum-based Shibu Inu (SHIB) is trading at $0.000024, up 7%, and Pepe (PEPE) at $0.00001, up 21%. Solana-based Dogwifhat (WIF) is sitting at $3.27, up 8%, with Floki (FLOKI) on Ethereum trading at $0.00019, up 11%.

Political Meme Coins on the Rise

Political meme coins, particularly those themed around former U.S. President Donald Trump, are also seeing significant gains. The MAGA (TRUMP) token is currently trading at $8.41, up 31% for the day. Doland Tremp (TREMP) is sitting at $0.65, up 3%; and MAGA VP (MVP) is currently priced at $0.36, up 64%. An Ethereum wallet tied to Donald Trump now holds nearly $5 million in MAGA (TRUMP) tokens. In total, the wallet belonging to the 2024 presidential candidate holds almost $7 million in crypto.

Trump’s Stance on Cryptocurrencies

Last week, Trump gave a nod of approval to cryptocurrencies during an event with his NFT holders at his Mar-a-Lago resort in Florida. He told the gathered collectors that he intends to stop the hostility toward crypto if elected to a second term this year, with the presumptive Republican candidate saying that if America is going to embrace the technology, then the industry has to be rooted in the country.

Conclusion

The resurgence of interest in meme coins, led by Dogecoin, and the rise of political meme coins, particularly those themed around Donald Trump, highlight the volatile and unpredictable nature of the cryptocurrency market. As the 2024 presidential election approaches, the stance of potential candidates on cryptocurrencies could significantly impact the market.

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Merritt Vale
Merritt Valehttps://en.coinotag.com/
Merritt Vale is a 24-year-old woman who has a strong affinity for the Dogecoin community and has a particular love for the altcoin Shiba. With a passion for understanding the latest trends and developments in the cryptocurrency industry, Merritt provides fresh perspectives and valuable insights to her readers.
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