Today, the value of Dogecoin has increased due to the broader cryptocurrency market starting to recover. On June 19, the price of DOGE rose by more than 4% in the past 24 hours, reaching an intraday high of $0.1267. This growth surpasses the market average, which increased by 1.85%.
The price increase of DOGE is driven by a combination of fundamental and on-chain metrics, such as positive trader sentiment and whale activity.
The recovery of meme coins also contributes to the rise of DOGE. Today’s price increase is part of a broader upward trend in the meme coin sector, marking a shift from the momentum that has driven cryptocurrencies up in recent days.
The overall market capitalization of meme coins has risen by 5.43% in the past 24 hours, reaching $47.8 billion, while the daily trading volume has decreased by 13%, amounting to $5.1 billion. This indicates that only some investors are buying at lower levels.
Other leading meme coins, such as SHIB and PEPE, have risen by 3.9% and 10.5%, respectively, on the daily timeframe. Among the popular meme coins, BRETT showed the highest growth, increasing its market value by 22.21% in the past 24 hours. FLOKI, BONK, and MEME have seen their prices increase by 5.5%, 4.6%, and 4.7%, respectively, over the same period.
With the rise in trading activity in the past few hours, asset prices are increasing, indicating renewed trader interest in the meme coin sector. According to data, the spot trading volume of Dogecoin has risen by 45%, reaching $0.83 billion. This significant increase in trading volume indicates heightened investor interest and activity around DOGE.
