A double-digit surge has propelled meme cryptocurrency Dogecoin to over $0.10 for the first time in a year.

The price of Dogecoin currently stands at just over $0.103285, up 16.8% on the day, as altcoins follow Bitcoin's bullish price movement and the meme coin marked its 10th anniversary today. Dogecoin was originally launched on December 6, 2013 by creators Billy Markus and Jackson Palmer.

The last time Dogecoin hit $0.10 was almost exactly a year ago, on December 7, 2022, per data from CoinGecko.

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Despite its recent price action, the cryptocurrency has a long way to go before it can recover its all-time high of over $0.73, posted in May 2021.

The dog-themed cryptocurrency isn't the only meme coin to have posted gains alongside the wider crypto market, with Shiba Inu (SHIB), PEPE and BONK all up by double-digits in the last 24 hours. Per CoinGecko, the meme coins category as a whole has surged by 11% in the past day to a market cap of $23.7 billion.

The meme coin frenzy comes alongside a booming crypto market, with the total market cap of all cryptocurrencies up by 4.7% in the last 24 hours to reach $1.67 trillion.

Bitcoin has led the charge, fueled by optimism over the potential approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission.

The largest cryptocurrency by market cap is currently trading above $43,800, up 5.1% on the day, having blasted through the appropriately meme-themed price of $42,069 yesterday.

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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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