Dogecoin reached an all-time high of $0.13 today after a surge of nearly 60% in the last 24 hours. DOGE is now the 10th most valuable digital currency in the world.
According to the latest data published by Coinmarketcap, Dogecoin crossed the market cap of $16 billion on Wednesday. DOGE is now more valuable than several other crypto assets including Chainlink (LINK), Bitcoin Cash (BCH), Stellar (XLM) and TRON (TRX).
Dogecoin has posted nearly 3,000% gains in 2021. DOGE started this year at a price level of just $0.004. The surge in the price of digital currency came after a rise in demand from retail traders. In January 2021, the digital currency jumped nearly 900% within 24 hours after receiving support from Reddit groups including WallStreetBets and SatoshiStreetBets.
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Dogecoin received support on Twitter from several celebrities including Tesla CEO Elon Musk and rapper Snoop Dogg. In December 2020, Musk teased the crypto community with his famous Tweet, “One word: Doge”.
As of writing, Dogecoin is trading near $0.13 with a market cap of more than $16 billion. Digital currency is up by nearly 100% in the last 7 days.
Adoption of Dogecoin
The recent surge in adoption of Dogecoin has played a major role in its record price jump. In March 2021, Dallas Mavericks, an American professional basketball team, became the first NBA team to accept DOGE as a payment method for tickets and merchandise. CoinFlip, one of the leading crypto ATM providers in the United States, recently announced that it has listed Dogecoin on its 1,800 ATMs across the US in an effort to make the cryptocurrency available to the masses. Latvian airline airBaltic also announced last month that the company has started accepting different digital currencies as a payment method including Dogecoin.
The overall market cap of digital currencies touched an all-time high of $2.25 trillion on Wednesday after Bitcoin (BTC) and Ethereum (ETH) reported record gains in the last 24 hours.