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.

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%.