It was only a matter of time! With a highly passionate community behind it, the meme coin has blasted itself to stratosphere, crossing the half a dollar mark, and landing itself in the zone of a $70 billion market cap.
All thanks to a jump of over 40% during the last 24 hours.
After recently capturing a $50 billion market capitalization, the market cap of Dogecoin now exceeds some $71 billion. DOGE has also been eating away at the market dominance of BTC, and has captured no less than 3% of the entire crypto economy at the time of this writing.
Bitcoin is not the only one that has suffered and made way for Dogecoin, other altcoins are also impacted by this rally — a rally that has seen DOGE climb 45% today and 97% during the last seven days.
It gained over 41% during the last day against Bitcoin, and 51% against Ethereum, on its way to capturing the fourth position in the crypto economy among the 9,000+ crypto assets in existence today. The global trading volume of this meme-based cryptocurrency was $15.91 billion on Tuesday morning.
All in all, the meme asset is now worth more than Honda Motor Company in valuation!
At press time, DOGE is changing hands at prices between $0.48 per unit, which is fair clip below its latest all-time high of $0.57 per unit. But this drop is only logical as the meme crypto charted new territory for itself in terms of value.
This recent rally started after Elon Musk tweeted about his appearance on Saturday Night Live on May 8, with the Tesla CEO asking Twitter for his SNL skit ideas.
Onwards and upwards, then!
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