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Dogecoin Storms Into Top 5, Beating Tether, Cardano, and Polkadot

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Fri, 04/16/2021 - 13:49
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Alex Dovbnya
Dogecoin has just hit $0.45 for the first time, soaring over 150 percent in hours
Dogecoin Storms Into Top 5, Beating Tether, Cardano, and Polkadot
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Meme cryptocurrency Dogecoin is in the middle of another arresting rally that has allowed it to enter the CoinMarketCap top five for the first time since 2016.

Doge
Image by coinmarketcap.com

Last time DOGE was that high on cryptocurrency charts, its market cap was a minuscule $31 million. For comparison, Dogecoin's current value is $50 billion (yes, you read that right!), which is bigger than DoorDash, Ford and ING.

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Dogecoin—a cryptocurrency that was originally created as a joke—has now surpassed leading stablecoin Tether (USDT), Cardano (ADA) and Polkadot (DOT). Yesterday, it also managed to edge out Uniswap (UNI) and Litecoin (LTC). Dogecoin's next target could be XRP, which has crashed almost 12 percent over the past 24 hours.

Elon Musk's favorite cryptocurrency is up over 11,000 percent since the start of 2021.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.