There’s a new king in town! A canine themed king. Dogecoin has finally become the top four crypto, thanks to its ongoing rally that has seen the price of this meme coin top 69 cents for the first time.
It did not happen on April 20 as the DOGE Army had hoped, but this milestone was finally reached roughly two weeks later.
At press time, the Shiba Inu inspired crypto is changing hands at around $0.64 after climbing to a record high of $0.696 on Wednesday. Data from Messari shows that the digital coin has gone up 38% within the last 24 hours.
This makes for an eye-watering 13,611% year-to-date, and up 1,017% over a 30-day period.
And this ascent is not without merit.
As noted in this report from Galaxy Digital, the DOGE project appears to have remarkably strong fundamentals and powerful forces supporting its rise. An increased user adoption being the defining factor after an analysis of various on-chain metrics to determine the popularity of this cryptocurrency.
According to the firm, there are over 3.6 million addresses holding some amount of Dogecoin, and somewhere around 60% of total supply has moved in 2021.
Its surging popularity means that DOGE has unseated the fourth largest cryptocurrency by market capitalization, with the cryptocurrency now valued at around $84.2 billion in total. XRP has now slid to sixth place with a $55.9 billion market cap.
Bitcoin, of course, remains the king of kings with a market capitalization above $1 trillion.
By this metric, Dogecoin is now worth more than the US multinational delivery service company FedEx.
Who doesn’t love a good joke, right?
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