2 November 2024
Dogecoin Becomes 8th Largest Cryptocurrency by Market Cap
Dogecoin’s price has once again surged to its all-time high without any push from prominent social media figures or significant developments in the project.
According to CoinMarketCap’s Data, the price of Dogecoin (DOGE) is up by $0.18 at the time of writing, with a market capitalization of roughly $23.8 billion. The token’s recent rally has surged its price by more than 63% in the last 24 hours. It has effortlessly surpassed tokens like Uniswap (UNI) and Litecoin (LTC) to become the 8th largest cryptocurrency by market cap.
Many retail outlets have started adopting the currency as a form of payment. Besides this, a popular Miami nightclub has also begun to accept DOGE upon reopening as payment for tables, drinks, and merchandise.
Dallas Mavericks owner and DOGE promoter Mark Cuban also reported the basketball team’s store had sold more than 122,000 DOGE’s of merchandise. Cuban also claimed that the team “will never sell 1 single Doge ever.”
Although Tesla CEO and DOGE enthusiast Elon Musk has tweeted one of his memes amid the token’s price surge, the recent rally reflects the heating climate around the crypto market.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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