$DOGE reached the top eight of the cryptocurrency market, beating Cardano
as a utility coin for Twitter. However, the lack of details and the absence of rumors caused the rally to fade, but the attention of investors remained.With the crypto market's attention chained to Dogecoin, any appearance of buying support could have led to a strong rally that would push DOGE back to the top. Yesterday, that short-term support occurred, and the cryptocurrency saw a solid 11% price increase in the last 24 hours.
Considering the nature of Dogecoin, a mild 11% price increase can easily turn into a full-blown price rally with a triple-digit return like the one we saw at the beginning of November. The distribution of holders on DOGE has always been heavily tilted toward retail investors, who usually aim at short-term gains rather than a prolonged holding of assets.quickly returned to the list of the top eight coins on the cryptocurrency market, leaving Cardano behind.
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