Dogecoin rallied with a shocking 50% in a single day, rising to 0.68 USD per coin – an all-time high for this particular cryptocurrency. Even more impressively, Doge surpassed the total market cap of Ripple once the demand for it boomed so much.
According to Coinmarketcap’s recent report, Dogecoin’s market cap has risen above 88 billion US dollars, which is about 25 billion more than Ripple. What is even more mind-boggling is that Doge became the fourth most valuable cryptocurrency on the market, after Bitcoin, Ethereum, and Binance Coin. It beat the market cap of the most valuable stablecoin Tether.
According to reports by another crypto analytic platform called BYBT, 200 million USD worth of Dogecoin have been liquidated this week, and that occurred after its rally.
And to think that this currency started out as a silly, light-hearted meme that no one took too seriously.