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(DOGE) is an all-round winner among the industry’s biggest cryptocurrencies in the past month, with its price almost doubling over the period.
That represents a massive 117% increase in value over the past two weeks, and as much as 107% in the last 30 days, according to data from CoinGecko.
The latest rally also helped Dogecoin to overtake(ADA) as the industry’s eighth largest asset—with a market capitalization of $16.4 billion, DOGE is currently almost $2 billion ahead of ADA.
Looking at how cryptocurrencies with a market capitalization of more than $5 billion performed in the last month, runner-up(ETH) is behind DOGE by a large margin, up 18% over the span.
Other notable gainers include Binance Coin (BNB), and (AVAX), which are up 17%, 14% and 11%, respectively.,
Another popular meme coin Shiba Inu (SHIB) is up 12% in the last month, while (BTC), which is currently trading at around $20,390, gained only a modest 4.8% over the same period of time.
Elon Musk, the 'Dogefather'
Dogecoin is known as Musk’s favorite cryptocurrency—the meme coin shot to prominence after Elon Musk endorsed it in a series of tweets last year, even touting it as the next big thing.
The Tesla boss once even jokingly called himself “Dogefather,” and his tweets have impacted on Dogecoin’s price movements, helping to carry the cryptocurrency to an all-time high of $0.67 in May 2021.
In May this year, soon after first making his interest in buying Twitter public, Musk suggested that the social media platform could become sort of a "super app" similar to China's WeChat. That would mean integrating payments into the platform, a prospect that has Dogecoin's supporters enthused.
However, five days after his purchase of Twitter, Musk has yet to drop any hint as to what role the meme coin could play in his newly-acquired social media platform—leaving plenty of room for speculation and price volatility.