Dogecoin and other canine tokens lead the pack as wider crypto market remains flat
Dogecoin, the meme coin beloved by Elon Musk with a market capitalization of $16.5 billion, is outpacing its peers bitcoin and etheruem in the last 24 hours, jumping nearly 9% to trade at nearly $0.11.
Also among the top 10 gainers in the period are ethereum-based dog token shiba inu and solana-native canine coin bonk, each increasing over 3%, data from CoinGecko shows.
In another positive sign for the meme coin, dogecoin ETFs have only recorded monthly inflows since their November listing, bringing in a cumulative net flow of $9.6 million, according to SoSoValue.
However, traders expect dogecoin to trade lower soon. Prediction market-implied odds of the cryptocurrency sliding below $0.08 stand at 76% on Wednesday morning.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)