Dogecoin needs to be taken more seriously
Dogecoin, a meme-inspired cryptocurrency that was started as a joke in 2013, became the fourth largest cryptocurrency with more than $86 billion market cap.
The rally in Dogecoin was initially sparked by a series of tweets from Elon Musk earlier this year. An overall increase in demand for crypto among investors following Bitcoin’s surge to more than $60,000 and the direct listing exchange platform Coinbase like also helped support the continued rally in Dogecoin.
Now, traders are bidding up DOGE even higher, potentially in anticipation of Elon Musk’s hosting of Saturday Night Live. Even some congressman have gotten in on the Dozecoin craze, with house member Mark Green disclosing that he purchased the cryptocurrency earlier last month.
Dogecoin differs from Bitcoin in that there is no hard limit on the total supply of coins. Bitcoin has a fixed supply of about 21 million coins, of which not all have been mined yet. DOGE on the other hand has more than 129 billion coins outstanding, with 5 billion in new coins hitting the supply every year.
Dogecoin’s unlimited supply and the bewilderment of its founder hasnot stopped investors from pilling into the “Meme” token, making it now more valuable than there five (05) well known companies, based of Friday price.
1 . GENERAL MOTORS
Ticker : GM
Market Cap : $85.5 Billion
Ticker : CL
Market Cap : 69.52 Billion
3. Dell Technologies
Ticker : DELL
Market Cap : 77.07 Billion
4. Duke Energy
Ticker : DUK
Market Cap : 77.58 Billion
Ticker : MRNA
Market Cap : 65.34 Billion
However, On Friday trading Doge hit the ATH of $0.7441 . At the press time it trading $0.672. Doge lovers expecting that it’ll cross important $1 tick very near term.