‘Joke’ Dogecoin Hits All-Time High With $48.3 Billion Market Value

‘Joke’ Dogecoin Hits All-Time High With $48.3 Billion Market Value

Topline The Dogecoin cryptocurrency surged to an all-time on Friday morning – almost tripling its value in just 24 hours – and is now the seventh largest cryptocurrency in terms of market value.
Key Facts As of 9:30 a.m. Friday, the value of Dogecoin had jumped 183% in just the past 24 hours to an all-time high of $0.374, according to Coinbase , giving the cryptocurrency a market cap value of $48.3 billion.
Over the past week, Dogecoin’s value has more than quintupled in value.
According to CoinGecko.com . Dogecoin is now the seventh largest cryptocurrency in terms of market cap, but far behind number one Bitcoin, which now has a market cap in excess of $1.1 trillion.
The latest spurt in price follows a tweet from 12:33 a.m. Thursday morning by Dogecoin aficionado, Tesla chief Elon Musk, who simply posted an illustration of a dog staring up at the night sky, with the caption “Doge Barking at the Moon.”
Key Background The Dogecoin began as a “joke” in 2013 and is based on the “Doge” meme which depicts a cartoon version of a Shiba Inu, a breed of Japanese hunting dog.
This is a developing story.
Palash Ghosh
I have more than 20 yrs experience in writing about financial markets. I am especially interested in history and literature.

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