Dogecoin Skyrockets Past a Half Dollar, DOGE Market Cap Eats Into BTC Dominance – Markets and Prices Bitcoin News
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One of the biggest cryptocurrencies, Dogecoin, got a boost this week from a variety of sources. The DOGE coin market has taken off today in a big way, with the price of dogecoin hitting $0.0069 on the markets this week, up from $0.0055. (This is still only a fraction of a cent)
The Dogecoin price has continued to skyrocket today, rising more than 20 percent over the past 24 hours to bring it to a present market capitalization of $50 million. This latest gain has helped Dogecoin climb up to a new all-time high, and it now has a market cap that is even bigger than bitcoin’s was back in May 2013.
The popular meme-based cryptocurrency, dogecoin, has experienced incredible growth over the past 24 hours, jumping more than 40% since yesterday. After last being valued at $50 billion, Dogecoin now has a market value of over $71 billion. Moreover, Dogecoin is wresting itself away from Bitcoin’s market dominance, as it accounts for 3% of the total crypto economy at the time of publication.
Can’t keep a good dog
Dogecoin continues to climb higher, with the DOGE crypto asset hitting an all-time high of $0.57 per unit on Tuesday. Dogecoin is up over 45% today and 97% in the last seven days. As of Tuesday morning (ET), DOGE’s total trading volume was $15.91 billion.
Compared to Bitcoin (BTC), Dogecoin has gained over 41% in recent days and compared to Ethereum (ETH), it gained 51% last week. Doge ranks fourth in the crypto economy among the more than 9,000 crypto assets in existence today. The valuation of the meme assets is worth more than that of Honda Motor Company.
In just 30 days, the DOGE has gained 944% against the US dollar and over 1000% against bitcoin (BTC). The 90-day statistics show that the DOGE has risen 1508% against the US dollar and over 900% against the BTC in the last three months.
Currently, BTC experiences very little inflation on the network, but the community considers it a deflationary crypto asset. On the other hand, there are currently 129,461,434,269 DOGE in circulation and Dogecoin is considered inflationary.
A Dogecoin (DOGE) address contains 36,711,937,077 units as of this writing. He is the richest Dogecoin owner to date. This address accounts for over 28.38% of all Dogecoin holdings.
Dogecoin (DOGE) is trending on social media and forums with the hashtags #hodl and other trends related to Dogecoin on social media.
The DOGE recently went up again after Tesla’s Elon Musk spoke about his appearance on Saturday Night Live (SNL) on the 8th. May had tweeted. Last week, a tweet from Musk stated: Dogefather SNL at 8. May, and a Tesla executive asked on Twitter to share sketch ideas for SNL.
Dogecoin continues to defy expectations in the crypto-currency market. I think part of the reason is the hype surrounding it, coming from celebrities like Elon Musk and Mark Cuban, Konstantin Boyko-Romanovsky, CEO and founder of Allnodes, told Bitcoin.com News. Since the currency has an inflationary supply, it is affordable.
Mark Cuban sees it as an alternative to bitcoin for payments. It’s aimed more at the general public because it’s not expensive. Sixty thousand dollars per bitcoin can be intimidating to some. So in some ways the Doge is closer to the US dollar, but in digital form, Boyko-Romanovsky added.
At the time of publication, DOGE is trading between $0.48 and $0.553 per unit, down a hair after hitting the current ATH a few hours ago.
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