Dogecoin is leading the memecoin wave as its price surged by 23% in the last 24 hours, regaining the $0.20 psychological mark. The memecoin market cap has reached $69.80 billion, with Dogecoin accounting for $30.32 billion of that valuation.
The impressive rally of Dogecoin reflects the growing investor interest and optimism in the cryptocurrency market, particularly in memecoins, which have seen renewed attention amid the current crypto bull market dynamics.
However, to head towards the $1 mark, Dogecoin would need to maintain this upward momentum and possibly surpass psychological resistance levels, boosting investor confidence and engagement in the process.