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Terra (LUNA) has kicked Dogecoin (DOGE) out of the top 10 on CoinMarketCap, the leading cryptocurrency ranking site.
This comes just a day after it had trumped Shiba Inu, another meme coin sensation.
The staking and governance token of the Terra protocol has been a massive outperformer over the past week, soaring by more than 60%.
This Friday, it is up by yet another 5% despite virtually all major coins being in the red. The LUNA token has set a record high of $69.56.
Bitcoin is down 1% today, continuing its streak of lethargic price action.
Alex DovbnyaAfter its show-stopping rally in early 2021, Dogecoin managed to break into CMC’s top 5 in mid-August, surpassing the Tether stablecoin. In early May, it peaked at number 4, with its market cap surpassing a staggering $90 billion dollars.
However, the cryptocurrency infamously crashed during Elon Musk’s hosting debut on “Saturday Night Live.” It is now down 72.53% from the lifetime peak of $0.731578.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team