.Dogecoin's Shiba Inu mascot featured as Twitter's logo caused a surge in $DOGE price, resulting in other Shiba Inu-themed meme coins to jump up to 25%. But will the surge last?
) rose up to 10%, while smaller-cap coins such as floki , kishu inu and baby dogecoin surged as much as 25%.
Such surges in price are unlikely to hold long term, however, as some traders warn that such moves don't indicate a broader trend. “Since bitcoin has been experiencing a relatively stable upward trend, meme coins’ rise would indicate the third phase, the end of the cycle. But there is no need to over-interpret such momentary price changes,” Chaumont said.
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