The most famous meme coin, Dogecoin went to the moon yesterday. The cryptocurrency saw an all-time high of $0.14 with the help of a surge of around 90% over the last 24 hours. The market cap of the coin has also increased in a huge amount and DOGE is ranked the 10th most valuable cryptocurrency worldwide and Dogecoin news is currently all around the Internet.
Coinmarketcap has recently published the data on Dogecoin. The parody coin exceeded the market cap of $17 billion on Wednesday. This number makes Dogecoin more valuable than some other well-known crypto assets such as Chainlink (LINK), Stellar (XLM), Bitcoin Cash (BCH) and THETA.
Dogecoin has performed well not only recently but also since the start of 2021. The DOGE price has increased by 3,000% this year while it began its journey with just $0.004. Obviously, the price was boosted by the demand from retail investors. In January 2021, Dogecoin surged 900% in just one day with support from Reddit groups.
In addition to social groups, celebrities have also smoothed the way for the rise of Dogecoin. The most popular name behind the success of DOGE is Elon Musk. In December 2020, he tweeted: “One word: Doge” and the rest was history for the cryptocurrency.
Is Dogecoin Getting Mainstream?
The adoption of Dogecoin has been increasing recently and that is one of the factors triggering the rise of the token. In March 2021, Mark Cuban, the owner of the American professional basketball team Dallas Mavericks, announced that Dogecoin is added to payment options for tickets and merchandise. One of the most popular crypto ATM providers, CoinFlip started to list Dogecoin on 1,800 ATMs across the US in order to increase the availability of Dogecoin for traders. Another Dogecoin news was Latvian airline airBaltic also made it public that it started to accept many digital currencies as a payment method especially altcoins including Dogecoin.