If you’ve been living under a rock for the last two days, here’s everything you need to know to get caught up on crypto: Dogecoin (CCC:DOGE-USD) exists. It has been rocketing higher this week, setting new all-time high after new all-time high. In fact, it seems that investors have forgotten about everything else as Dogecoin prices rise, sending it higher in the top 10 cryptos list.
On Monday of this week, Dogecoin traded at 7 cents. That in and of itself is impressive. In January, the token wasn’t even worth a penny. In its entire history, dating back to 2013, the dog-faced digital currency had eclipsed the 1-cent mark one time before, back in 2018.
Since the second time, DOGE has begun a steady ascent upward, with Dogecoin prices steadily climbing. By March, the coin reached 5 cents, and saw strong influence from celebrity endorsements, particularly through the tweets of DOGE fan Elon Musk.
In four days, DOGE prices have inflated from 7 cents to an all-time high of 43 cents. As such, its market capitalization is skyrocketing, and DOGE is ceaselessly climbing higher in the list of the top 10 cryptos. Where before it wasn’t even a contender in the heated race to knock off Bitcoin (CCC:BTC-USD), the happy dog is now hot on the heels of the monster.
Top 10 Cryptos: DOGE Takes No. 6 Spot
So where do things stand now? In terms of market capitalization, DOGE is now the sixth-largest crypto currency. At one point this morning, it claimed the No. 5 spot.
This morning, the coin went on a tear. It passed some major crypto players, like Polkadot (CCC:DOT-USD), Cardano (CCC:ADA-USD), and Tether (CCC:USDT-USD). The coin’s market cap appreciated by over $15 billion over the course of the morning in order to accomplish this feat. Next on the meme-coin’s hit list is Ripple (CCC:XRP-USD), which the SEC is currently hitting with a lawsuit.
So what does DOGE need now? If it can get back to the No. 5 spot on the list, DOGE will need to make up a more-than-$20-billion gap between itself and the XRP token. Given its unprecedented rise over the week, however, it doesn’t seem like a tall ask.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.