Dogecoin

Chainlink

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Dogecoin (DOGE) has rebounded from its&nbsp;<a href="https://u.today/serious-dogecoin-doge-problem-spotted-on-chain" rel="noopener noreferrer nofollow">protracted slump</a> in the past week and has made a major move to&nbsp;<a href="https://coinmarketcap.com/currencies/dogecoin/" rel="noopener noreferrer nofollow">reclaim</a> its spot in the top 10 most capitalized cryptocurrencies. Dogecoin was&nbsp;<a href="https://u.today/dogecoin-doge-no-longer-top-10-coin" rel="noopener noreferrer nofollow">pushed</a> to 11th place earlier this month by Chainlink (LINK), as its price nosedived in unusual ways in clear dissonance to the market trend at the time.
Dogecoin’s reboot comes amid 5.44% growth in the past 24 hours to $0.08574. The coin’s market capitalization is now pegged at $12,267,705,906, a figure that now surpasses the $11,735,482,124 for Chainlink.
The digital currency ecosystem is a dynamic one, with trends changing regularly. Though the industry is at a point where almost every altcoin is on a bullish run, some outliers can be seen on the market, and their growth typically shifts the paradigm in visible ways.
Dogecoin has had erratic growth in recent times. However, the current surge has enhanced its growth over the past week by 7.5% on the back of a sustained boom in adoption, as showcased by its trading volume, which is up by more than 100% to $795,277,043.
<h2 id="dogecoin-utility-to-watch">Dogecoin utility to watch</h2>
Dogecoin as a digital currency has many unmet expectations. While it serves the general purpose of any digital currency as a conveyor of value across the board, Dogecoin’s true utility is limited.
Unlike many new meme coins are now in the industry, Dogecoin does not support multi-functions like smart contract administration or native staking, and it is not even deflationary as it implements no form of token burning.
With meme coin farmers now presented with more promising alternatives, Dogecoin might need to revamp its utility to stay relevant beyond the impacts of&nbsp;<a href="https://u.today/elon-musk-fuels-dogecoin-speculation-with-recent-move" rel="noopener noreferrer nofollow">Elon Musk’s posts</a> on X. Overall, the coin remains one of the most watched altcoins on the market and is the standard for the new generation of meme coins.

Dogecoin Reclaims Top 10 Position as DOGE Price Surges 7.5%

Table of Contents

U_Today

Other articles published on Feb 15, 2024

Blur and Arbitrum surging, investors stacking Everlodge after Uniswap listing

Ripple IPO Could Set New Records; Top Trader Predicts Soaring Future for Polkadot Rival

Breaking: Bitcoin ETF Net Inflow Slows To $340 Mln, What’s Next For BTC Price?

Price Analysis: Celestia (TIA) Price Falls More Than 3% In 24 Hours

Analysts Predict Newly Released Cryptocurrency to Reach $5 Following Exchange Listings

DeFi Sector Surges with Record High Total Value Locked

Join our free newsletter for daily crypto updates!