Its “meme” rally in the cryptocurrency space as investors seem to be hungry to take on more risk given the rally seen in smart contract leader, Ethereum. Dogecoin, the memecoin leader, is up more than 10% on Tuesday, while the broader crypto market shows signs of slowing down after a rally last week.
Dogecoin was trading at $0.085, up more than 23% over the past seven days, according to data from CoinMarketCap. Tuesday’s price move comes as dog-themed memecoins have rallied over the past week, with some jumping more than 28%.
Shiba Inu, who occupies second place on the memecoin chart, with a market capitalization of $8.65 billion is up over 30% over the past week, trading hands for $0.0000158 on Tuesday. Others such as baby dogecoin is up 19.1% and dogelon mars rose a modest 7.9%.