Aug 31 mins read

Dogecoin Surges to Historic Highs in Value

Internet Meme-inspired Cryptocurrency Rises Over 354% in a Week

Dogecoin Reaches Historic Highs in Value

Dogecoin logo

Dogecoin (DOGE), which originated from internet meme culture, reached a historic high today (16) of $0.28 USD, a surge of nearly 126% in the past 24 hours and a cumulative increase of over 354% in the past week. Its market value has also surpassed Litecoin (LTC) and Bitcoin Cash (BCH), making it the "8th largest cryptocurrency" by market capitalization.

Dogecoin chart

Dogecoin is also being accepted as payment by an increasing number of retailers, including the E11EVEN Miami nightclub and Dallas Mavericks basketball team owner Mark Cuban, who has vowed to never sell his Dogecoin holdings.

The recent surge in Dogecoin is attributed to endorsements from public figures like Elon Musk, the booming cryptocurrency market, and the seasonal competition among cryptocurrencies. This trend may lead to a short-term shift in profit from Bitcoin and Ethereum to other competitive coins that receive attention from public figures.

Dogecoin accepted here sign