Dogecoin (DOGE) Price Suddenly Spikes 10% in Hours

The price of Doge­coin, the lead­ing meme coin, has surged by rough­ly 12% with­in five hours. 

The canine cryp­tocur­ren­cy reached a peak of $0.10516 on the Binance exchange before par­ing some gains. 

Accord­ing to data pro­vid­ed by coin rank­ing site Coin­Mar­ket­Cap, Doge­coin is cur­rent­ly the best-per­form­ing cryp­tocur­ren­cy with­in the top 10. It is also the third best-per­form­ing cryp­tocur­ren­cy with­in the 100 (behind only Fan­tom and Chainlink). 

Doge­coin saw a dou­ble-dig­it price spike over the week­end after Tes­la CEO Elon Musk sug­gest­ed that he would cre­ate his own smart­phone amid his feud with tech giant Apple. The mar­ket saw this ludi­crous idea as a poten­tial­ly pos­i­tive sign for future Doge­coin adoption. 

As report­ed by U.Today, the price of the most pop­u­lar meme coin shed its week­end gains on Mon­day, with prof­it-tak­ing like­ly thwart­ing the meme coin’s renewed momentum. 

Doge­coin expe­ri­enced a wild ral­ly short­ly after Musk final­ized the acqui­si­tion of Twit­ter. How­ev­er, it fiz­zled out rel­a­tive­ly quick­ly, and the largest meme coin is still down 85.74% from its life­time peak. 

As report­ed by U.Today, Doge­coin plunged sharply low­er after Twit­ter report­ed­ly scrapped its plans to inte­grate a cryp­tocur­ren­cy wallet. 

Still, the price of the lead­ing meme coin remains sen­si­tive to any Twit­ter-relat­ed news since the mar­ket still believes that DOGE might an end being an impor­tant part of the social media platform.