Coinspeaker
Dogecoin (DOGE) Price Breakout Signals Fresh Meme Season, Especially for Dog-themed Coins

Elon Musk-backed meme coin, Dogecoin (DOGE), has recorded increased on-chain and development activities in the recent past. The large-cap meme coin, with a fully diluted valuation (FDV) of about $28.8 billion, has significantly benefited from tangible support from crypto whale investors. Furthermore, Dogecoin price has rallied more than 118% in the past four weeks to trade around 20 cents on Thursday, during the early London session.

Top Reasons Dogecoin Price Is Rising

Dogecoin, the second largest digital asset that is secured through the legendary proof-of-work (PoW) consensus mechanism, has significantly benefited from the unwavering support from tech billionaire Elon Musk. Earlier this month while in Germany at the Gigafactory for Tesla Inc (NASDAQ: TSLA), Musk highlighted that Dogecoin will soon be enabled for car purchases.

As Coinspeaker mentioned this week, the Dogecoin Foundation successfully rolled out the GigaWallet v1.0 software to enable seamless integration between the Dogecoin network and online shops for streamlined payment...