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DOGSHIT Meme Coin Hits $37 Million Market Cap Amid Surge in X Layer Coins

DOGSHIT Meme Coin Hits $37 Million Market Cap Amid Surge in X Layer Coins

X Layer’s trading activity surged with a 116% daily increase, while meme coin XDOG’s market cap climbed to $40.23 million, highlighting volatility concerns in the ecosystem.

Fact Check
Two separate sources, ainvest.com and cointech2u.com, explicitly state that the DOGSHIT meme coin surpassed a $37 million market cap. Another source, CoinMarketCal, confirms a surge in X Layer meme coins around the same time and identifies DOGSHIT as a prominent example. CoinGecko confirms the coin exists and trades on the X Layer platform.
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Summary

According to geckoterminal data, X Layer recorded $77.45 million in on-chain trading volume over the past 24 hours, marking a 116% rise alongside 444,300 transactions. Meme coin XDOG’s market capitalization increased by 4.6% during the same period, reaching $40.23 million. BlockBeats cautioned that meme coin markets remain highly volatile and urged investors to avoid FOMO and safeguard their assets.

Terms & Concepts
  • Meme Coin: Cryptocurrencies typically created as jokes or for entertainment purposes, often lacking serious use cases and subject to high price volatility.
  • X Layer: A blockchain network that supports the creation and transaction of meme coins and other decentralized applications.