Dogecoin Blasts Into Top 10, And Leaves

Yesterday, it was the 33rd largest cryptoassets by market capitalization, today it was 7th, before dropping to the 12th position. Created as a joke in 2013, dogecoin (DOGE), is experiencing a wild ride for the second day now. (Updated at 11:41 UTC: updates throughout the entire text).

At the time of writing (11:33 UTC), DOGE trades at USD 0.04722, crashing from USD 0.782 reached earlier today. The price is still up by 270% in a day and 479% in a week. It rallied by 951% in a month and 1,832% in a year.

As reported, yesterday, the rally started after "WSB Chairman", who claims to be the "Chairman of WallStreetBets," the r/wallstreetbets subreddit, with 5.6m (was 4.6m yesterday) users, responsible for the GameStop pump this month, asked about Dogecoin. And it was enough to send DOGE to the top 10 Club in one day.

This is the second coordinated DOGE pump in less than a year. Last summer, the TikTok community unsuccessfully tried to lift the price of the coin to USD 1.

DOGE market capitalization (USD 9.3bn) is now bigger than chainlink (LINK)'s (USD 9bn), litecoin (LTC)'s, stellar (XLM)'s. Bitcoin cash (BCH) and binance coin (BNB) have also been left behind.

The 24-hour DOGE trading volume now stands at USD 27.6bn. Earlier today, it was even higher than ethereum (ETH)'s trading volume, which is now above USD 45.5b.

Meanwhile, Google searches for "dogecoin" surpassed "bitcoin" this week.

/cryptonews.com/

2021-01-31