Bitcoin, Ethereum have also soared to record levels
Dogecoin, originally designed as a joke, spiked more than 25% on Tuesday’s trade and post a new All-Time High (ATH) of $0.096607. All other major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Cardano (ADA) have also soared to record levels with BTC topping $63000 for the first time ever.
Dogecoin’s creators intended for their crypto concept to be a joke, based off a popular dog meme. But, the crypto become immensely popular, especially among the Redditors largely credited with surging GameStop’s stock earlier this year.
Dogecoin also soared in market capital, getting swept up in the social media fueled retail trading frenzy that has driven up the price of so-called meme stock.
Dogecoin was created largely as a satirical critique of the 2013 crypto frenzy. After a kind interest of Tesla CEO Elon Musk on Doge, the meme coin soared more than 1000% within last 6 months.
However, the entire Crypto market is extremely bullish ahead of the highly anticipated IPO for Cryptocurrency exchange platform Coinbase on Wednesday – even though the vast majority fund managers believe the high prices are the result of bubble.
Read Also : Binance- the most popular Crypto exchange