Dogecoin, Peanut the Squirrel Coin, and DTX Exchange: The Hottest New Cryptos Gaining Momentum

Each has seen significant price jumps due to viral stories and high-profile endorsements, including mentions by Elon Musk.

As the dust settles on the recent market rally, several cryptocurrencies have emerged from the fray, propelled by viral stories and high-profile endorsements. Among them are Dogecoin, Peanut the Squirrel Coin, and DTX Exchange.

Dogecoin, a cryptocurrency that began as a joke in 2013, has experienced a meteoric rise in recent weeks, outpacing even Bitcoin in growth. On November 12, Dogecoin reached its highest price since June 2021, hitting $0.4359.

Over the past week, Dogecoin has surged by 94%, while over the past month, it has soared by 245.9%. In comparison, Bitcoin has risen by 19% over the past week and 35.5% over the past month. While Dogecoin still pales in value to Bitcoin, which currently trades at around $87,948, its recent gains have certainly not gone unnoticed.

According to Regan, one possible reason for Dogecoin's rapid rise is its utility in the payments space. Compared to other cryptocurrencies like Bitcoin, Dogecoin boasts lower transaction fees, making it a more cost-effective option for sending money internationally. For instance, individuals outside of Venezuela can send money back home at a lower cost using Dogecoin.

Another factor contributing to Dogecoin's rise is its acceptance by some businesses. Regan cites Williamsburg Pizza in Brooklyn, which accepts Dogecoin as a payment method, as an example.

Additionally, Elon Musk's influence on Dogecoin's price trajectory cannot be overlooked. Musk, a self-proclaimed fan of internet memes, has frequently mentioned Dogecoin in his social media posts. Being a meme coin itself, Dogecoin aligns well with Musk's penchant for online humor.

During Donald Trump's election campaign, Musk mentioned a new government department called D.O.G.E. (Department of Government Efficiency) to save money and cut costs, which has now been confirmed. This mention is said to have spurred interest in Dogecoin, leading to a surge in its price.

In another unusual twist, a new memecoin inspired by a squirrel named Peanut has soared in value after its story went viral on social media. This coin, named after TikTok star Peanut the Squirrel (PNUT), is quickly becoming one of the fastest-rising memecoins, reaching a value of $1 billion in no time.

The story goes like this: Peanut, a squirrel, was rescued by a man named Mark Longo and his family in New York. PNUT became famous on TikTok, but there was a problem: keeping a squirrel as a pet is illegal in New York.

Officials showed up at Mark's house to take Peanut and another animal, a raccoon named Fred, and sadly, both animals were put down. Elon Musk saw this story and shared it online, describing it as “government overreach.”

After Elon tweeted about it, the Peanut memecoin experienced a surge in price, reaching up to $42 million. A few days later, Senator J.D. Vance, the new Vice President, also mentioned Peanut in a speech, saying, “It's crazy that the government doesn't care about criminals but won't let us have pets.”

With all this attention, the PNUT memecoin continued to rise in value and even got listed on some of the biggest crypto exchanges, like Binance. In just one week, the coin's value jumped by an incredible 4,000%.

There's a new altcoin on the block that everyone's talking about – it's called DTX Exchange. This new altcoin has attracted a lot of attention, thanks to its unique trading platform.

DTX combines the worlds of centralized exchanges (CEX), like Binance or Coinbase, and decentralized exchanges (DEX), like Uniswap or SushiSwap, into one platform. On DTX, you can trade stocks, forex, bonds, and all kinds of cryptocurrencies.

The platform is powered by the VulcanX Layer-1 blockchain, which aims to make trading faster and more secure worldwide. Right now, the DTX coin is priced at just $0.10 in its presale, and it has already raised over $7.6 million.

This shows how interested investors are in the project, and once it officially launches, experts believe that DTX could go on to big things, with some predicting a price that could even beat Dogecoin.

The popularity of DTX can be attributed to its ability to bridge the gap between traditional finance (banks, stock trading) and the new Web3 world, which utilizes blockchain technology. Many investors are drawn to the potential returns and benefits they might be able to reap by using DTX's trading platform.