- Prices of dog-themed meme coins continue to rise on Monday, with Dogecoin hitting a three-year high.
- Shiba Inu holds on to recent gains after hitting a five-month high.
- Dogwifhat rises sharply to become the fourth largest coin by market capitalization.
The top three dog-themed meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) extend their gains Monday after surging over the weekend. The rally, which led the price of these coins to rise by double digits in a matter of days, is likely inspired by Bitcoin’s (BTC) new all-time high and speculation that tech billionaire Elon Musk – a prominent Dogecoin supporter – would play a leading role. central role in the new administration of Donald Trump.
DOGE hits three-year high amid market rally
On Monday, Dogecoin (DOGE) hit a three-year high of $0.30, marking a 223% year-to-date increase. On Sunday, the leading meme coin surged nearly 27%.
Source: DOGE year-to-date chart
The value of DOGE last increased significantly on March 31, reaching $0.22. Analysts link the recent rally to Donald Trump’s election victory, which appears to have reignited interest in the crypto market. Trump Supporter and Dogecoin Defender Elon Musk Reportedly Influential market sentiment with his mentions.
WIF breaks the $3 barrier
WIF hit a notable milestone on Monday, trading above $3 for the first time since June. The token is currently valued at around $3.08, still around 36% below its all-time high of $4.81, reached on March 31.
Source: WIF 1-day chart
SHIB hits five-month high
Shiba Inu saw a notable 40% increase after lead developer Shytoshi Kusama proposed the creation of a strategic crypto hub in the United States on Sunday. Shiba Inu, the second biggest meme cryptocurrency reached a five-month high of $0.0000278.
Source: SHIB 1-day chart
SHIB quickly rebounded, increasing by 12% in the last 24 hours. SHIB has a market capitalization of $14.7 billion.