The popular meme-based crypto asset Dogecoin has made incredible gains in the past 24 hours and is up over 40% since yesterday. After a market valuation of $ 50 billion, Dogecoin market capitalization is now over $ 71 billion. In addition, the meme coin has ruined Bitcoin’s dominance of the market, with Dogecoin capturing 3% of the total crypto economy at the time of publication.
I can’t hold a good dog down
- Dogecoin continues to rise as the crypto asset DOGE hit an all-time high on Tuesday, hitting $ 0.57 per unit. Dogecoin is up over 45% today and up 97% in the past seven days. Global DOGE trading volume on Tuesday morning (ET) is $ 15.91 billion.
- Against Bitcoin (BTC) Dogecoin gained over 41% on the last day and 51% compared to Ethereum (ETH) in the last week. Doge has taken fourth place in the crypto economy among the more than 9,000 crypto assets in existence today. The meme asset’s valuation is worth more than that of the Honda Motor Company.
- DOGE has gained a whopping 944% against the US dollar and over 1,000% against Bitcoin (BTC) in just 30 days. 90-day statistics show DOGE is up 1508% against the USD and more than 900% against the USD BTC over the past three months.
- Now the BTC The network has low inflation but is viewed by the community as a deflationary crypto asset. Dogecoin, on the other hand, currently has 129,461,434,269 DOGE 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 richest Dogecoin holder today. This address contains more than 28.38% of the total Dogecoin supply.
- On social media and forums Dogecoin (DOGE) is trend next to the hashtags #hodl and other Dogecoin-related social media Trends.
- DOGE recently rose again after Tesla’s Elon Musk tweeted about his appearance on Saturday Night Live (SNL) on May 8. Last week, Musk’s tweet said, “Dogefather SNL, May 8,” and the Tesla manager asked Twitter for ideas for SNL skits.
- “Dogecoin continues to defy expectations in the crypto market. I believe part of the reason is the hype that surrounds it and comes from celebrities like Elon Musk and Mark Cuban, ”Konstantin Boyko-Romanovsky, CEO and founder of Allnodes told Bitcoin.com News. “Since the coin has an inflationary supply, it is affordable.”
- “Mark Cuban sees this as an alternative to Bitcoin for payment transactions. It’s more appealing to the general public because it costs so little. $ 60,000 for a single bitcoin can intimidate some. In some ways, Doge is more like USD, but in digital form, ”added Boyko-Romanovsky.
- At the time of publication, DOGE is trading hands for prices between $ 0.48 and $ 0.553 per unit, dropping a hair after touching the last ATH a few hours ago.
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