Dogecoin In Crypto Top 10 Again With $12.2B Market Capt: 'Bring The Fire,' Says Analyst

While Shiba Inu (CRYPTO: SHIB) briefly shed one zero from its price, Dogecoin (CRYPTO: DOGE) currently trades 5% below its resistance level of $0.09.

What Happened: Over the past week, Dogecoin has gained approximately 5%.

A dogecoin channel, Crypto Daily Trade Signals pointed out in a tweet today, Feb.16, “#Dogecoin is about to BLAST-OFF!! We will break the $0.09 resistance level!! End of February $0.10 Incoming.”

In another development, horror legend Stephen King criticized Elon Musk for his takeover of Twitter, now branded as X, in 2023.

 

Doge founder Billy Markus replied to the writer that he cannot apply the old name to the platform bought by Musk and that it should be named as Musk sees fit.

In a separate post, DogeDesigner, who claims to be a UX/UI and graphic designer at Dogecoin, advised the writer that “Even this post of yours exceeds 140 characters. I advice you to start calling it 𝕏.”

Also Read: Dogecoin Climbs Back Above 8 Cents: 'Expecting 45%-50% Bullish Rally In Case Of Successful Breakout,' Analyst Says

Why It Matters: Earlier in the week, Dogecoin fell behind Chainlink, losing its 10th position by market capitalization.

However, Dogecoin regained its top 10 position, with a current market cap of $12.2 billion, compared to Chainlink's $11.4 billion.

Based on Whale Alert data, the gains during the week were accompanied by three significant DOGE transactions within 24 hours on Feb. 13.

The first transaction of 72.2 million DOGE was transferred from Robinhood to an unknown wallet and the other transactions of 150 million DOGE and 100 million DOGE to unknown wallet addresses.

Memecoins have been on a roll in the crypto space with many like Bonk, Dogwifhat, and Pepe pumping and filling investors’ wallets

Read Next: Crypto Analyst Predicts Dogecoin To Kickstart 'Memeseason' With A Pump To $0.10

Image: Shutterstock

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: CryptocurrencyNewsTop StoriesMarketsdogcoinsMemeCoins