TWTR - The Price Of Dogecoin Rose More Than 100% In October

The price of %Dogecoin () rose 101% in October, outpacing all other %Cryptocurrencies , according to the %CoinDesk Market Index.

The meme token that was started as a joke and features the cartoon image of a %ShibaInuDog was the top crypto performer in October among the 150 digital assets included in the index, which rose 7% overall during the month.

%Bitcoin (), the largest cryptocurrency by market capitalization, was up 5.5% on the month, while %Ethereum () gained 18% over the last 31 days.

Analysts attribute the recent run in Dogecoin to Elon Musk’s $44 billion U.S. takeover of %Twitter (). Musk has long been a champion of Dogecoin on social media, referring to himself as the %Dogefather .

On Halloween, Musk Tweeted a photo of his own Shiba Inu dog wearing a Twitter t-shirt, sparking a rally in Dogecoin’s price.

Most analysts forecast that Dogecoin will continue riding waves of speculation and trade in a volatile pattern – with or without Elon Musk’s encouragement.

Despite the big rally in October, Dogecoin’s price currently sits at $0.14 U.S.