Dogecoin after a stellar rally of 400 percent last week now commands a significant place of being among the five most valuable cryptos globally. The value of the digital token is $50 billion.
The rally in the meme currency was fuelled after Tesla’s Elon Musk’s cryptic tweet saying ‘Doge barking at the moon’. From a price of 10 cents on April 14, the value of dogecoin has surged to $0.32 as on April 21, 2021. Further as per the Coinbase site, there has been a record 1421 percent surge in trading volume.
Further as per reports, Dogecoin has become even bigger in market cap in comparison to Ford Motor and Kraft Heinz. Though there is no comparison but it typically underlines the cryptocurrency wave that has taken everyone by storm.
The surge in dogecoin came up as fans rallied behind the #DogeDay hashtag to celebrate April 20 (4/20), known as a day for smoking marijuana in cannabis culture, reports mentioned.
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