Dogecoin (DOGE), the most well-known meme cryptocurrency, is experiencing significant momentum today. Since the start of the daily trading session, DOGE’s price has risen by 8%, now sitting at $0.126 per coin. This marks its highest value since the end of September.

Trading Volume Fuels Dogecoin’s Rally

The surge in DOGE’s price is closely tied to a notable spike in trading activity. Data from CoinMarketCap and CoinGlass reveal that the combined spot and futures market trading volume for DOGE stands at $5.47 billion. This massive trading activity highlights the growing interest and movement around Dogecoin.

Related article: Dogecoin Trading Volume Declines: Can It Break Through Resistance?

With such volumes, Dogecoin is not only leading among meme cryptocurrencies but also standing out in the broader crypto market. It now ranks alongside major assets like Bitcoin, Solana, Ethereum, and Sui. Among other meme coins, Pepe Coin (PEPE) remains Dogecoin’s nearest competitor, with a trading volume of $4.9 billion, but still trails DOGE by half a billion dollars.

_{DOGE to USD by CoinMarketCap}

Dogecoin Leads the Crypto Market in Growth

Dogecoin has also taken the top spot among the top 100 cryptocurrencies based on 24-hour growth. Its performance far exceeds that of its rivals. The next leading meme coin, BONK, trails far behind, displaying only half of DOGE’s growth rate. Even Bitcoin ranks eight places lower in terms of growth during this period.

Related article: Dogecoin Open Interest and Trading Volume Soar: Is a Breakout Imminent?

Traders are now eager to see where Dogecoin’s price will head next. Many predict that DOGE could test the $0.14 per coin mark, a crucial resistance level. 

If bullish momentum continues at that point, it may signal a significant shift in market sentiment, potentially leading to further price gains for Dogecoin.