The popular meme-based crypto-asset dogecoin has seen incredible gains during the last 24 hours jumping over 40% since yesterday. After just recently capturing a $50 billion market valuation, Dogecoinâ€™s market cap now exceeds $71 billion. Moreover, the meme-coin has been eating away at bitcoinâ€™s market dominance, as dogecoin captures 3% of the entire crypto-economy at the time of publication.
Canâ€™t Keep a Good Dog Down
- Dogecoin continues to rise higher as the crypto asset DOGE has touched an all-time high on Tuesday reaching $0.57 per unit. Dogecoin is up over 45% today and 97% during the last seven days. There is $15.91 billion in global DOGE trade volume on Tuesday morning (ET).
- Against bitcoin (BTC), dogecoin has gained over 41% during the last day and 51% against ethereum (ETH) during the last week. Doge has captured the fourth position in the crypto economy among the 9,000+ crypto assets in existence today. The meme assetâ€™s valuation is worth more than Honda Motor Company.
- DOGE has gained a whopping 944% against the U.S. dollar and over 1,000% against bitcoin (BTC) in just 30 days. 90 day stats show that DOGE has jumped 1508% against the USD and more than 900% against BTC over the course of the last three months.
- Now the BTC network has a little inflation but it is considered a deflationary crypto asset by the community. Dogecoin on the other hand has 129,461,434,269 DOGE currently in circulation and is considered inflationary.
- A single dogecoin (DOGE) address has 36,711,937,077 in the address at the time of writing and is the wealthiest dogecoin owner today. This address holds more than 28.38% of the entire dogecoin supply.
- On social media and forums, Dogecoin (DOGE) is trending alongside the hashtags #hodl and other Dogecoin related social media trends.
- DOGE recently started rising again, after Teslaâ€™s Elon Musk tweeted about his appearance on Saturday Night Live (SNL) on May 8. Last week, Muskâ€™s tweet said â€œDogefather SNL May 8â€ and the Tesla executive has been asking Twitter for SNL skit ideas.
- â€œDogecoin continues to defy expectations within the crypto market. I believe that part of the reason is the hype that surrounds it, which comes from celebrities like Elon Musk and Mark Cuban,â€ Konstantin Boyko-Romanovsky, CEO and Founder of Allnodes told Bitcoin.com News. â€œSince the coin has an inflationary supply, it is affordable.â€
- â€œMark Cuban sees it as an alternative to Bitcoin for payment transactions. It appeals more to the general public because it costs so little. $60,000 for a single Bitcoin may be intimidating to some. In a way, Doge then is more like a USD but in a digital form,â€ Boyko-Romanovsky added.
- At the time of publication, DOGE is exchanging hands for prices between $0.48 to $0.553 per unit, dropping a hair after it touched the recent ATH just a few hours ago.
What do you think about dogecoinâ€™s climactic run-up? Let us know what you think about this subject in the comments section below.