Dogecoin is Worth 10 Cents. Dogecoin, the virtual currency that originally started as an internet meme more than seven years ago, has surged more than 85% in the last 24 hours and is trading at $0.13. Its market cap is now over $17 billion. CNN reports:
The meme-cryptocurrency Elon Musk wouldn’t stop tweeting about has reached an all-time high. According to Coindesk, it has risen to 70.22% in the last 24 hours – the highest ever recorded.
Dogecoin is Worth 10 Cents
It started as a joke, but now the joke appears to be on the people who didn’t take Dogecoin seriously. The meme-cryptocurrency Elon Musk wouldn’t stop tweeting about has reached an all-time high. According to Coindesk, it has risen to 70.22% in the last 24 hours – the highest ever recorded.
Currently (at the time of writing this article), Dogecoin’s value is $0.122680, or almost 12 cents. The market cap of DogeCoin — which started as a joke and is literally classified as “a meme coin” — is currently over $14 billion.
This is the highest-ever for the cryptocurrency and the result of a semi-ironic movement involving thousands of buyers, tens of thousands of online posters, and the world’s richest man, Elon Musk.
In early January, each token was worth less than one cent. In late January, when both the GameStop and DogeCoin movements hit their stride, the value of DogeCoin shot up to 7.5 cents, well over a 10-magnification, before sliding down to 2.5 cents.
The coin has spent the past few months in the three- to the seven-cent range. On Sunday, its price began to rise, from around six cents, before it smashed the 10-cent milestone, reports CNET.
Dogecoin Reached 10 cents
Why is meme world becoming a new currency?
Tesla CEO, SpaceX boss, and currently world’s richest person, Elon Musk, had announced that he “bought some Dogecoin for Lil X so that he can be a toddler holder.” Dogecoin surged as much as 16% following the tweet, spiking from $0.069 to $0.08.
By and large, In a February interview on social app Clubhouse, Musk said he should have bought that digital currency eight years ago. His company Tesla has also promised customers that they can buy their cars with bitcoin.
Coinbase, meanwhile, is set for its debut Wednesday. The company is profitable and has reported strong revenue growth.
The Bottom Line
Above all, Based on recent private stock trades for Coinbase, the company is valued at a stunning level of nearly $68 billion.
To put that into context, it’s a little bit more than the market value of New York Stock Exchange owner Intercontinental Exchange (ICE)