Over the last 24 hours, Dogecoin price surged by more than 10%, sparking renewed interest in meme coins across the cryptocurrency market. This unexpected spike comes as other tokens like Fartcoin, TRUMP, and Bonk also see price rallies. Social media buzz, especially on X, has played a crucial role in driving this momentum, reflecting increased excitement among traders and investors.
Dogecoin’s price was near $0.16 on April 21, 2025, showing hints of consolidation after a recent rise. Analysts estimate a trading range of between $0.15 and $0.28 this month, with some forecasts projecting a rise to as high as $0.57 by the beginning of May.
This depends on market sentiment and Bitcoin’s performance. Elon Musk’s comments continue to influence the price, while his latest repudiation of Dogecoin for government usage had no effect. Technical indicators suggest that Dogecoin is at a critical point, with resistance near $0.26 requiring heavy volume to break through.
Meme Coins Gaining New Momentum
Meme coins beyond Dogecoin are gaining considerable momentum, with tokens like Fartcoin rising over 100% in the last 24 hours, trading at $1.05. TRUMP witnessed a 7% surge in 24 hours, propelled by market relief after the U.S. tariff halt, while the BONK price jumped 18.68% over the same period.
Social media discussion and headline-driven moves continue to drive these gains, with communities rallying behind these speculative assets. This newfound focus highlights meme coins’ ability to recover quickly amid shifting market conditions.
Key Factors Behind Dogecoin Price Surge
Several key factors drive the boom in meme coins. First, growing retail investor interest is driven by the desire for rapid gains, drawn to meme coins’ low prices and extreme volatility. Elon Musk’s remarks put Dogecoin and others in the spotlight, fuelling demand.
Meanwhile, advancements in Dogecoin’s network, such as faster transactions and tipping features, increase its usefulness. The broader crypto market’s strength, with Bitcoin’s steady ascent, also helps meme coins. Not only this, but social media buzz and viral trends produce community support, propelling prices higher despite economic uncertainties.
Meme coins like Dogecoin have strong upside potential in 2025. Experts anticipate that meme coin could rise, pushed by limited supply and strong community support. TRUMP also hopes for $100 if investor interest holds. While bullish expectations prevail, dangers persist from market volatility and macroeconomic variables. Still, momentum suggests that meme coins’ performance could surpass that of several altcoins this year.
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