Dogecoin

Cardano

Kevin

<p><a href="https://bitcoinist.com/dogecoin-meme-coin-mania/">Dogecoin (DOGE)</a> has come out on top over Cardano and XRP following a recent development highlighting each token’s growth. This could reflect positively on the <a href="https://bitcoinist.com/100-rise-dogecoin-to-0-3/">meme coin’s price</a> soon enough, given how much crypto users look to be invested in the crypto token.&nbsp;&nbsp;</p> 
<h2 id="dogecoin-experiences-the-second-largest-network-growth">Dogecoin Experiences The Second-Largest Network Growth</h2> 
<p><a href="https://x.com/santimentfeed/status/1786226227873042568" rel="nofollow" target="_blank">Data</a> from the <a href="https://bitcoinist.com/why-these-2-altcoins-could-witness-price-bumps/">market intelligence platform Santiment</a> shows that Dogecoin has experienced the second-largest network growth in the past six months. Currently, 6.6 million wallets are said to be holding the meme coin, representing a 27% growth over this period. DOGE is only behind <a href="https://bitcoinist.com/toncoin-flips-cardano-dogecoin/">Toncoin (TON)</a>, which has recorded a 110% growth over the last six months, with 16,800 wallets holding the crypto token.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-301269" src="https://bitcoinist.com/wp-content/uploads/2024/05/Dogecoin-1-1.png?w=512&amp;resize=512%2C349" alt="Dogecoin 1" width="512" height="349" data-recalc-dims="1"> 
<p>Meanwhile, Dogecoin topped other major cap crypto tokens, with XRP and Cardano recording 7% and 0% network growth, respectively. The meme coin also surpassed the foremost crypto tokens, <a href="https://www.newsbtc.com/news/ethereum/ethereum-crypto-analyst-1900/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600." rel="nofollow noopener" target="_blank">Bitcoin and Ethereum</a>, which have grown 10% and 11% in the last six months, respectively.&nbsp;</p> 
<p>Dogecoin’s network growth is expected to reflect positively on DOGE’s price since many crypto users are adopting the meme coin. This will likely trigger significant price surges for Dogecoin as these investors continue to accumulate the crypto token. The increased interest in Dogecoin isn’t surprising, given that meme coins are one of the leading narratives for <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/">this bull run</a>.</p> 
<p>Therefore, these investors are likely positioning themselves with DOGE, as the foremost meme coin, expected to gain massively from the meme coin hype. DOGE has so far enjoyed a year-to-date (YTD) of over 77% but looks to be still far from achieving its full potential, with <a href="https://bitcoinist.com/dogecoin-doge-price-reach-1/">crypto analysts like Ali Martinez</a> predicting that <a href="https://bitcoinist.com/dogecoin-doge-price-can-reach-1/">it can rise to $1</a> in this market cycle.&nbsp;&nbsp;</p> 
<p>Dogecoin’s fundamentals are also as bullish as ever, with the meme coin set to <a href="https://bitcoinist.com/elon-musk-tesla-dogecoin-payments/">gain more utility</a>. Automotive company Tesla <a href="https://bitcoinist.com/tesla-dogecoin-payments-x/#:~:text=Tesla%20Integrates%20Dogecoin%20As%20A,opt%20for%20Dogecoin%2Deligible%20products.">recently integrated</a> DOGE payments to purchase specific merchandise on its website. Meanwhile, there continue to be <a href="https://bitcoinist.com/dogecoin-doge-payments-x/">rumors</a> that Dogecoin will likely be integrated into X payments due to Elon Musk’s fondness for the meme coin.&nbsp;</p> 
<h2 id="doge-s-outlook-on-the-chart-is-bullish">DOGE’s Outlook On The Chart Is Bullish</h2> 
<p><a href="https://bitcoinist.com/crypto-analyst-says-dogecoin-could-rally-2500-presents-possible-targets/#:~:text=Crypto%20Analyst%20Says%20Dogecoin%20Could%20Rally%202%2C500%25%2C%20Presents%20Possible%20Targets,-by%20Scott%20Matherson&amp;text=Crypto%20analyst%20Kevin%20(formerly%20OG,attain%20in%20this%20bull%20run.">Crypto analyst Kevin Capital</a> (formerly Yomi OG) recently provided a bullish outlook for Dogecoin from a technical analysis perspective. He revealed in an <a href="https://x.com/Kev_Capital_TA/status/1792710520879161616" rel="nofollow" target="_blank">X post</a> that Dogecoin is about to receive a 2-month MACD <a href="https://bitcoinist.com/bitcoin-price-suffers-sharp-decline/">(Moving Average Convergence/Divergence)</a> cross to the upside for the second time in history.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-301270" src="https://bitcoinist.com/wp-content/uploads/2024/05/Dogecoin-2-1.png?w=512&amp;resize=512%2C311" alt="Dogecoin 2" width="512" height="311" data-recalc-dims="1"> 
<p>The crypto analyst mentioned that Dogecoin began a “massive bull market to $0.74” the last time this happened. This raises the possibility of the meme coin rising even higher this time around. In the meantime, DOGE&nbsp;looks headed for $0.22 as Kevin Capital <a href="https://x.com/Kev_Capital_TA/status/1792681641619644593" rel="nofollow" target="_blank">revealed</a> that the crypto token is breaking out of a <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-inverse-head-shoulders-pattern-76000/%5C" rel="nofollow noopener" target="_blank">head and shoulders pattern</a>, which could send it to this price level.</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/moFTCLB0/" alt="Dogecoin price chart from Tradingview.com" width="3286" height="1576">

DOGE To The Moon: Dogecoin Beats Out Cardano And XRP In This Major Metric

Table of Contents

Bitcoinist

Other articles published on May 21, 2024

ZkSync Token Generation Will Be Launched With Airdrop Scheduled On June 26

Bitcoin’s Liquidations Hit $97 Million Amid Market Rally

Robinhood Europe Launches Solana Staking: Millions Raised On Milei Moneda Presale Teases Big Retu...

Binance Labs Announced It Invested in a New Altcoin, Price Reacted!

Superchain Network Partners with Movement Labs to Empower Developers with Unprecedented Speed and...

Ethereum jumps 17% on increased ETF approval odds

Join our free newsletter for daily crypto updates!