- Baby Doge has reached a double-digit rise in 24 hours as it leads the resurgence of other doggy-themed cryptos.
- Shiba Inu, Dogecoin, and Floki Inu also followed the impressive run.
- The general cryptocurrency markets are enjoying an upswing after weeks of a poor showing.
Bulls are thrilled given the recent spike in values of top cryptocurrencies after a forgettable week. However, a certain class of cryptos is ushering the charge in the fresh price rally and they revolve around meme coins.
The Baby Doge And Shiba Way
In under 24 hours, Baby Doge has notched meteoric gains of over 10% to trade at $0.00000000362 making it the largest gainer amongst top meme coins for the day. The asset class now ranks as a top gainer after a horrid showing in the last couple of months. At its height, Shiba Inu occupied the ninth spot and surpassed Dogecoin by gaining a whopping 45,000% in months.
SHIB’s new resurgence still sees it down by 64% from the all-time highs that it reached in October 2021. However, trading volumes have ballooned by 200% over the day to surpass $1.5 billion. A market share of 0.87% puts it within striking distance of Binance USD and Polkadot.
This recent swell in value is largely a result of impressive partnerships and developments made by the team. Early this month, the team announced a partnership with Welly’s, a fast-food chain that includes the display of Shiba Inu’s insignia and NFT issuance for the customers. Zooming out, the crypto community is taking note of the strides by the network to shake off the meme coin tag by introducing novel use cases. The introduction of DoggyDAO and Shibarium paints a positive picture for the evolution of cryptocurrency.
Dogecoin, a leading meme coin managed to rack gains of 4.57% in the last 24 hours while the weekly chart indicates a 16.89% growth. DOGE trades at $0.1541 at the moment and indicators show that it is poised to ride the same wave as SHIB.
Other Doggy-Themed Cryptos
Shiba Inu and Dogecoin are not the only meme tokens that are shooting for the moon as other doggy-themed cryptos are making similar gains. Floki Inu covered up lost ground from last week by notching a 12% gain that left it trading at $0.00004. The gains might be intricately linked to the discovery of an exploit and the resulting fix by the developers that saved assets from being stolen.
Across the cryptocurrency markets, the wave of gains was felt by top assets. Bitcoin, Ethereum, Cardano, and Solana each recorded 24-hour gains of 4.88%, 6.02%, 6.41%, and 5.87%. These gains put the global crypto market capitalization at $2.01 trillion which is a jump of nearly 10% from the day before.
