Dogecoin's Volatile Journey: From Meme to Market Phenomenon
Dogecoin experienced an 11.5% drop in value over the past 24 hours amid a market correction, despite Elon Musk's humorous endorsement. Traders remain optimistic about its long-term potential, citing support levels and increased transaction volumes. The Dogecoin Foundation is working on projects to enhance DOGE's utility as a practical currency, with support from Ethereum co-founder Vitalik Buterin. Despite the recent dip, Dogecoin has seen significant gains over the past month, outperforming other meme coins like Shiba Inu and Pepe.