Few could have predicted the epic rise to fame and fortune that Dogecoin (DOGE) has experienced recently. Not only has the ‘joke’ cryptocurrency managed to become the fourth biggest cryptocurrency in the world today in terms of market capitalization, but it has also now surpassed Twitter’s market cap. As of the time of this writing, DOGE’s price is $0.54, which is a whopping 23% increase from its previous price within a 24-hour time period.
This success also coincides with billionaire Elon Musk’s appearance on SNL (Saturday Night Live), through which the price is expected to increase. Furthermore, in addition to surpassing Twitter, DOGE has also now managed to surpass that of Ford (a well-known and reputed car manufacturer based in the United States) and now even Tether (USDT) and Ripple’s native digital currency XRP as well.
No stopping DOGE
On the 4th of May 2021, DOGE’s market cap had exceeded $70 billion. Twitter, on the other hand, is worth approximately $44 billion, which is interesting because it had been primarily Twitter through which DOGE had become famous in the eyes of the mainstream audience. Moreover, DOGE had also managed to secure an all-time high (ATH) of $0.54 on Binance too. DOGE even continues towards recording ATHs against the flagship cryptocurrency Bitcoin as it had reached 793 satoshis earlier on in the day.
It should also be mentioned that it isn’t just Twitter where DOGE gained its popularity, like other social media platforms such as Facebook, YouTube, and Instagram all played a part. Reddit, for instance, managed to attract nearly 1.6 million subscribers.
DOGE to be listed on eToro
eToro, which is social trading as well as a multi-asset brokerage company that specializes in offering services pertaining to financial matters and copy trading, had announced that it should soon be listing DOGE on its platform. A representative of the company had stated that DOGE will be added as there is extremely high customer demand for it and that nearly 20 million customers will be able to sell and buy the cryptocurrency.
Ultimately, whether it be due to the integration with eToro, the success on social media, billionaires such as Elon Musk and Mark Cuban supporting it, or just the sheer amount of support that it has, it is safe to assume that DOGE is not going anywhere but up for the foreseeable future. As of the time of this writing, DOGE has increased by over 57% within the last week alone.