TL;DR

• DOGE is up

• SHIB is up

• Dogecoin Price Surges Amid Memecoin Revival

• Valour Launches First-Ever DOGE ETP on Sweden's Spotlight Stock Market 

• Murad Unveils Metrics Table to Assess Meme Coin Decentralization

• JUSTICE Meme Coin Faces Criticism Over Insider Control and Manipulation

• Coinbase to List FLOKI on the Ethereum Network

• Pump.fun Sees 66% Drop in Revenue After Livestream Controversy

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Dogecoin Price

Crypto is up this week, with DOGE being up 5.55% and SHIB up 28.37%:

Dogecoin (DOGE) Weekly Update

Dogecoin has seen notable price action this week, with its price rising 2.83% over the last 24 hours to $0.4374. Over the past 7 days, Dogecoin experienced a 6.41% increase, reflecting positive momentum within the memecoin sector. The live market capitalization currently stands at $64.29 billion, placing DOGE firmly within the top ranks of the cryptocurrency market. With a circulating supply of 146.97 billion DOGE and a maximum cap of 147.02 billion DOGE, supply dynamics continue to shape market activity. Trading volumes remain robust, with a 24-hour volume of $5.5 billion showcasing strong investor interest.

The price growth aligns with the broader trend of capital rotation within the cryptocurrency space, where liquidity flows from established coins like Bitcoin (BTC) and Ethereum (ETH) into higher-risk altcoins and memecoins. Dogecoin’s sustained popularity as a community-driven asset and its accessibility for retail traders further fuel its resilience and growth potential.

DOGE Market Analysis

Dogecoin closed the week with a solid uptrend, buoyed by increased trading activity and investor enthusiasm. Short-term support has been identified around $0.42, while resistance remains at $0.45. On a medium-term horizon, the recent price uptick suggests further gains if bullish momentum persists, with the potential to challenge resistance at $0.48. However, technical indicators hint at the possibility of brief pullbacks due to overbought conditions, particularly as the RSI approaches key levels.

In the long term, Dogecoin’s position as the leading memecoin solidifies its relevance in the cryptocurrency ecosystem. Support near $0.40 provides a strong foundation for future rallies, though broader market conditions will play a critical role in determining the sustainability of upward movements.

Expected Trading Ranges

Support: $0.42

Resistance: $0.45

Market Outlook

Dogecoin’s rise in market capitalization and consistent trading activity demonstrate its enduring appeal. While bullish sentiment drives current momentum, market participants should remain mindful of potential corrections as Dogecoin approaches resistance levels. As memecoins gain traction, Dogecoin continues to lead the pack, cementing its status as a key player in the cryptocurrency market.

Financial News

Dogecoin Price Surges Amid Memecoin Revival

Dogecoin’s market capitalization climbed to $57.8 billion on November 27, 2024, surpassing Porsche's $56.1 billion. This growth was driven by Elon Musk's endorsements and the launch of Valour's Dogecoin-based exchange-traded product (ETP) on November 26, signaling increased institutional interest. Musk’s creation of the Department of Government Efficiency (DOGE) further stoked investor enthusiasm, with retail investors interpreting it as a nod to the memecoin.

Over the past year, Dogecoin has surged 395%, contrasting Porsche’s 56% decline in market capitalization since April 2023. Analysts predict Dogecoin could rally by another 1,000%, supported by technical indicators such as the Gaussian channel, which suggests a bullish outlook. This momentum solidifies Dogecoin’s growing prominence in the cryptocurrency market.

Dogecoin Surpasses Porsche Market Cap Amid Musk Endorsements and ETP Launch 

On November 27, 2024, Dogecoin's market capitalization rose to $57.8 billion, surpassing Porsche's $56.1 billion. This surge, driven by Elon Musk's endorsements and the launch of Valour’s Dogecoin-based exchange-traded product (ETP) on November 26, underscores growing investor enthusiasm. Musk’s creation of the Department of Government Efficiency (DOGE), sharing its acronym with the memecoin, further fueled interest as retail investors interpreted it as a nod to Dogecoin.

While Porsche’s market cap has declined over 56% since April 2023, Dogecoin has experienced a remarkable 395% growth over the past year. Analysts predict a potential 1,000% price increase for DOGE, supported by technical chart patterns like the Gaussian channel, which suggests a continued bullish trajectory. This momentum solidifies Dogecoin's position as a key player in the memecoin market.

Shiba Inu Whale Controls 10% of Supply, Amassing $2.5B from $10K Investment 

Onchain data reveals a mysterious investor holding over 10% of the Shiba Inu (SHIB) token supply across 150 addresses, with an initial $10,000 investment in 2020 now valued at $2.5 billion. The investor, identified as 0x1406, purchased 103 trillion SHIB tokens between August and October 2020, achieving an unprecedented 250,000-fold return. Despite this massive gain, the whale has refrained from selling, potentially signaling confidence in the token’s future. However, the concentration of such significant holdings raises concerns about potential price volatility if large quantities are sold.

Shiba Inu’s market performance has been noteworthy, up 134% year-to-date and 27% over the past month. Analysts suggest it could emerge as a key player in the ongoing bull market, supported by a bullish cup-and-handle pattern that points to a potential breakout. Additionally, Shiba Inu's price may benefit from capital rotation from Dogecoin (DOGE), as SHIB is currently oversold against its rival based on relative strength index (RSI) indicators. This dynamic could fuel further upward momentum for SHIB in the coming market cycles.

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