Dogecoin (DOGE) rallies 15% as the crypto market recovers from slump

Meme cryptocurrency Dogecoin (DOGE) rallied 15% as the markets made recovery from the recent slump that sent cryptos plummeting.
Dogecoin (DOGE) rallies 15% in the recent green rally on the charts. Pic Credit: Forextime via Flickr

Key Takeaways

  • Meme token Dogecoin (DOGE) rallied 15% in the recent days as the crypto markets recovered
  • Major Binance Smartchain whales rallied behind DOGE, putting it among the top 10 purhcased tokens
  • TESLA could start accepting DOGE in the coming days, payment codes on the website confirm

YEREVAN ( As the cryptocurrency markets began taking steps toward recovery after the recent slump, Dogecoin (DOGE) took off on a bullish rally. The original meme coin pumped around 15% in the recent run. With a market cap of over $22 billion, Dogecoin (DOGE) remains the largest meme coin in the market. 

At the time of writing, DOGE trades $0.17 against the USD. However, the token remains around 80% below its all-time high of $0.7376, which it attained in May last year.

Dogecoin, Dogecoin (DOGE) rallies 15% as the crypto market recovers from slump
Dogecoin reached $0.17 per DOGE in the recent rally. Credit:CoinMarketCap

Recommended: Dogecoin Co-Creator revealed he holds less than $40K in DOGE

Dogecoin (DOGE) is a whale favorite 

As Dogecoin (DOGE) rallied, it jumped back on the list of the top 10 coins purchased by the 1,000 largest whales on Binance Smart Chain (BSC).

“Dogecoin back on top 10 purchased tokens by 1000 biggest BSC wallets,” 

WhaleStats, tweeted. 

In recent weeks, DOGE saw a sudden spike in transaction activities among traders. On January 11 alone, whales transferred 407.4 million Dogecoin between wallets, according to DogeWhaleAlert. That amounts to nearly $61 million in fiat currency. 

In one instance, a wallet transferred over $11 million worth of Dogecoin in a single transaction.

Recommended: Baby DogeCoin jumped 174% in Jan as fans try to get BABYDOGE listed on Binance.

TESLA to finally accept Dogecoin (DOGE)? 

As Dogecoin continues to rally, there may be another reason that has propelled the bull run. 

According to several Twitter users, vehicle giant TESLA will soon accept DOGE payments for its electric cars.

Excited fans have recently discovered that the Tesla Model Y payment page code shows Dogecoin as a payment method.

The discovery has kickstarted a debate on Twitter, with some users doubting the probability and others confirming the news. 

“I am deep into Dogecoin but…any web developer with half a brain will tell you that code like this is nothing more than a plant. They put it there ’cause want you to see it, then tip someone to debug. It’s a tease. I wouldn’t get my hopes up too high,”

 one user wrote.

TESLA CEO Elon Musk has been baptized as the Dogefather because he endorsed the coin on several occasions. Last month, he tweeted that the company would accept DOGE for various merchandise.

As a follow-up to that announcement, the payment code update has created much excitement in the markets. However, as DOGE continues to lead the altcoin rally, all eyes will be on Musk and his potential confirmation of the news. 

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Dogecoin, Dogecoin (DOGE) rallies 15% as the crypto market recovers from slump

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