Dogecoin [DOGE] seemed to be overpowering Bitcoin [BTC] in terms of popularity as TikTokers continue to pump the meme coin. DOGE was seen transpiring into becoming unstoppable. The altcoin not only rose in terms of price but also climbed up the crypto ladder as its market cap was on a rise.
Elon Musk’s consistent endorsements continue to pose beneficial to the altcoin as it was seen making its way on to $1 While Musk prepares to host Saturday Night Live as the “Dogefather”, the meme coin rose to an all-time high of $0.73. At the time of writing, Dogecoin had witnessed a slight pullback which brought the coin down to $0.70. The last 24-hours helped the altcoin bag gains up to 11%. Over the week, DOGE scored profits of almost up to 100%.
Furthermore, the market cap of DOGE has been turning several heads. The altcoin managed to climb up all the way to the fourth position as coins like XRP and Tether [USDT] fell back. At the time of writing, DOGE’s market cap was at a high of $91 billion. The asset’s market cap was extremely close to that of Binance Coin’s [BNB]. Speculations of DOGE surpassing BNB’s $97 billion market cap began to surface in the crypto community.
Dogecoin [DOGE] One-Day Price Chart On Binance
The short-term price chart of DOGE revealed that the bulls were camping out in its market. The Awesome Oscillator indicator laid out strong green closing bars which suggested a bullish momentum in the DOGE market. The Chaikin Money Flow indicator was seen mirroring this sentiment as the marker was above zero median. This further pointed out the presence of bulls.
Additionally, the Relative Strength Index indicator announced that DOGE was being overbought as the marker was all the way at 70 median.
The persistence of the ongoing sentiment could push the coin over to $1. Despite the asset’s notable price movement, several have been adamant about not purchasing the altcoin. However, a few others were sure that Dogecoin would hit $1 by the end of SNL.