Dogecoin (DOGE) Surges to 2024 Highs, Overtakes XRP Amid Market Rally

In an impressive comeback, meme coin Dogecoin (DOGE) has surged significantly, currently trading at $0.28. This represents an 88% increase over the past week, propelling DOGE’s market cap to over $42 billion and surpassing XRP, which now sits at around $37 billion.

The latest rally began on November 6, as market enthusiasm following Donald Trump's 2024 election victory spurred DOGE to a monthly high of $0.211. DOGE’s price has since continued to rise, gaining another 25% in the last 24 hours alone.

At this value, DOGE is at its highest price point since December 2021, and renewed buying interest could see further gains on the horizon. Its surge has once again moved it into the seventh spot in global market rankings, pushing XRP down a notch. Though profit-taking momentarily allowed XRP to reclaim its position, DOGE’s upward momentum has kept it ahead, showcasing strong demand in the meme coin market.

As investors remain active, DOGE’s momentum and position in market rankings indicate that this rally may still have room to grow.