Dogecoin, Shiba Inu, BONK Record Major Gains, Mark Their Territory Among Top Gainers — Analyst Predicts 600% Surge In DOGE's Price, Says 'Pump Hasn't Even Started'

DOGE-related coins have made it to the list of top gainers, among the top 100 cryptocurrencies by market capitalization.

What Happened: As reported by CoinMarketCap, a trio of these meme coins —BONK, Dogecoin, and Shiba Inu—shone as the top performers of the day.

The total market capitalization of the top 100 meme cryptocurrencies recorded a jump of 12.8% in the last 24 hours, standing at $23.8 billion. 

Pseudonymous analyst Kaelo hinted at a bright future for Dogecoin in comparison to Bitcoin (CRYPTO: BTC). “Makes the most sense $DOGE will eventually round out the memecoin rotation with a violent move vs its BTC pair,” the analyst said, adding,”Don’t sleep on the king.”

The chart shared by Kaleo reveals the possibility of Dogecoin climbing by 400% to hit $0.63. Kaleo said, “The pump hasn’t even started.”

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: Dogecoin, the largest of all the meme coins—cryptocurrencies born from internet humor—was originally created as a joke. However, its fate took a turn for the serious when Elon Musk, CEO of Tesla, brought it to the limelight through his tweets.

Now sitting at number 10 in the ranks of the world’s largest cryptocurrencies, Dogecoin has a market cap of $15.7 billion, even nudging ahead of Avalanche (CRYPTO: AVAX).

A social media metric, tracked by LunarCrush, saw Dogecoin’s social dominance score—a measure of its visibility across social media—skyrocket by 600% in a single day.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Image via Shutterstock