Dogecoin reached a big milestone today. After a huge 25% price rise, it now tops XRP. The meme coin’s value hit $30.45 billion, beating XRP’s $30.40 billion. This shifts the cryptocurrency market ranks. DOGE broke past the value of $0.20, which is its highest since April. The jump shows that more traders are joining in.
Also Read: Is Dogecoin (DOGE) on Track for 50 Cents with US Election Outcome?
How Dogecoin’s Surge Above XRP Impacts the Cryptocurrency Market
Record-Breaking Price Action
CoinGecko released data stating the following:
“The price of DOGE is up more than 25% over the past 24 hours alone.”
The meme coin still sits 72% below its highest price from 2021. A big move of 75 million DOGE left Robinhood for a new wallet, sparking heavy trading across exchanges. Trading volume jumped on all major platforms.
Market Dynamics Shift
The crypto market is moving fast. Solana jumped to fourth place, passing Binance Coin. Bitcoin hit $75,000, up 9% today. Traders now look beyond usual coins like XRP. This could create new trading trends.
Also Read: US Election Spurs Surge in Stocks and Crypto: Market Reactions
Whale Movements and Trading Activity
The significant Robinhood transfer shows that more big investors are interested in DOGE. These large moves often come before major price changes. Trading volumes are up across exchanges, which shows strong support in the cryptocurrency market. Multiple trading pairs show increased activity.
Market Impact Analysis
Beating XRP isn’t just about numbers. It shows that community coins have real strength. DOGE/USD trading jumped 300% on top exchanges today, which points to a longer trend, not a quick jump.
Telegaon had this to say:
”Dogecoin will remain a top meme coin in 2025 as well. According to our price prediction, the value of Dogecoin may hit a new ATH level this year. By 2025, we may expect an average price of $0.56 if current growth continues. Our maximum price prediction for Dogecoin is $0.72 for this year. If the market gets bullish, the value of Dogecoin may surge more than our price forecast in 2025. However, the minimum price level of Dogecoin can be around $0.41 in 2025 if the market turns bearish.”
Telegaon sees DOGE reaching new highs by 2025. They are projecting an average price of about $0.56. It could potentially peak at the value of $0.72. This only applies if the markets will keep strong in the near future.
CoinCodex shows bullish signals for DOGE, predicting a jump to $0.56 by February 2025, with current indicators showing 57% green days and 15.11% volatility.
”According to our current Dogecoin price prediction, the price of Dogecoin is predicted to rise by 173.94% and reach $ 0.566184 by February 4, 2025. Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 69 (Greed). Dogecoin recorded 17/30 (57%) green days with 15.11% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
Also Read: AI Predicts Shiba Inu’s Price (SHIB) When US Elections Results Are Out
Trading Volume and Market Response
Daily trading hit $2.4 billion on major exchanges. Buyers pushed DOGE through key price points, proving that meme coins still attract traders. Market watchers say steady trading shows buyers are confident at these prices. Meanwhile, XRP trades steady around $0.58. Trading patterns indicate sustained interest from both retail and institutional investors.
Credit: Source link
