After surging 42% in the last 2 weeks, DOGE investors are ready to diversify into Dogecoin rivals. Following Elon Musk’s bold promise to cut down public spending by $2 trillion through the Department of Government Efficiency (D.O.G.E), three dogecoin alternatives are positioned to seize the spotlight and potentially thrive. Department of Government Efficiency (D.O.G.E), Popcat (POPCAT), and Dogwifhat (WIF) are among the highest gainers in the top 100 crypto assets by market cap and could register explosive gains if Dogecoin profits flow into them.
3 Dogecoin Rivals Ready to Thrive
The DOGE price has increased by 15.1% in the last 24 hours and is trading at $0.1645. DOGE is also up 10.4% against BTC, showing that it is outperforming the king of crypto.
After hitting a high of $0.1690 early on October 29, DOGE’s price entered a consolidation as investors booked profits. The following Dogecoin rival coins are most likely to be the next to surge from DOGE profits.
1. Department of Government Efficiency (D.O.G.E)
The Department of Government Efficiency is a relatively new coin created two months ago after Elon Musk announced his intentions to serve in the United States Government under an agency with such a name if given the chance.
Recently, the idea that was thought of as a joke has become more serious. On Sunday, at the controversial Trump rally at Madison Square Garden in New York, Elon Musk was introduced as Co-founder of the Department of Government Efficiency (D.O.G.E). He said he would cut down the U.S. government spending by $2 trillion. D.O.G.E’s price soared, hitting an all-time high of $0.06945 with a $69.45 million market cap.
D.O.G.E is an ERC20 token on the Ethereum blockchain and analysts think it will continue surging as long as Musk mentions the Department of Government Efficiency.
last cycle we had one $DOGE
this cycle we have two:
1. Dogecoin / $DOGE
2. Department of Government Efficiency / $DOGEelon is memeing both
and i think it’s only a matter of time before they both violently rip upwards pic.twitter.com/YrpFymRhxV
— Unipcs (aka ‘Bonk Guy’) 🎒 (@theunipcs) September 26, 2024
D.O.G.E could quickly surge to a $1 billion market cap, a 1,500% increase from the current price. This is one top Dogecoin rivals that could have the highest ROI in this bull run.
2. Popcat (POPCAT)
Popcat is a meme coin on the Solana blockchain. It has hit an all-time high price of $1.72 and a $1.6 billion market cap. POPCAT is also the third-best-performing crypto asset in the top 100 by market cap and has outperformed BTC by 8.3%.
The cryptocurrency hit an all-time low of $0.0037 on January 5, 2024, and is now up 45,000% from that price per Coingecko data. Being among the largest meme coins on Solana, Popcat is one of the top Dogecoin rivals in this bull run.
3. Dogwifhat (WIF)
With the recent market uptick, the Dogwifhat (WIF) price broke out of a falling wedge. The breakout sets the stage for a potential 10-85% move that could propel its price back to its previous all-time high ($5).
However, the WIF price could have a small correction to retest the top of the falling wedge before bouncing to higher highs. The first resistance level lies around $2.94, followed by $3.7 and finally $5. Beyond this, WIF would be in the price discovery zone.
Conclusion
Department of Government Efficiency (D.O.G.E), Popcat (POPCAT) and Dogwifhat (WIF) present the best Dogecoin rivals to invest in as DOGE price cools off. D.O.G.E has the highest return potential, topping out at 1500% ROI just to hit a $1 billion market cap. POPCAT is already in price discovery, and being one of the largest meme coins on Solana, it could surge to a $10 billion market cap, 10X from the current price. WIF presents 85% potential gains to return to the previous all-time high before it enters price discovery.
Frequently Asked Questions (FAQs)
D.O.G.E is a meme coin on the Ethereum blockchain inspired by Elon Musk’s mention of creating a “Department of Government Efficiency.” Recently gaining traction due to Musk’s comments on government spending.
Popcat is a popular meme coin on the Solana blockchain, recently achieving an all-time high of $1.72 and a $1.6 billion market cap. Its rapid rise of 45,000% since January 2024 makes it one of the top-performing meme coins, with significant potential for continued growth in this bull run.
Dogwifhat (WIF) is another meme coin that recently broke out of a price-consolidating pattern known as a “falling wedge.” This breakout could lead to a potential 85% rise, targeting previous highs around $5, making it a promising investment as meme coins gain popularity.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/3-dogecoin-rivals-to-buy-after-elons-2t-d-o-g-e-savings-claim/
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