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Wednesday, August 4, 2021

Dogecoin Rockets Towards ‘The Moon’ — Meme Cryptocurrency Nears 70 Cents As Rally Continues

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The value of dogecoin soared to nearly 70 cents Wednesday morning as enthusiastic online traders continue to pile in on the ‘joke’ cryptocurrency, making it the fourth most valuable cryptocurrency and bringing the longtime goal of $1 a token within reach ahead of dogecoin champion Elon Musk’s anticipated appearance on Saturday Night Live this weekend.       

Key Facts

At the time of writing, dogecoin was trading at around $0.67 a coin—down slightly from an all time high of $0.69 earlier this morning.

The price per token was up 37% from this time the previous day, and has risen 147% over the past week.

Dogecoin’s market cap now sits at around $86.7 billion, up from $69 billion yesterday.

Trading app Robinhood crashed Tuesday when a spike in dogecoin prompted high levels of user activity, prompting outcry from frustrated users given that this is second time this has happened.    

Further Reading

‘Joke’ Bitcoin Rival Dogecoin Found To Have ‘Remarkably Strong Fundamentals’ As The Price Hurtles Toward $1 And A $100 Billion Market Cap (Forbes)

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