DOGE pumped 200% to become the 5th biggest cryptocurrency with its market cap surging as well so let’s read more in our latest dogecoin news today.
The meme coin doubled in value in one day as its price surged by 200% and left everyone surprised as it became the 5th biggest cryptocurrency. It now trades over $0.35 at press time, reaching a high of $0.45 and it breached into becoming the fifth biggest cryptocurrency with a market cap of $53 billion.
“Doge Barking at the Moon pic.twitter.com/QFB81D7zOL
— Elon Musk (@elonmusk) April 15, 2021”
DOGE is intrinsically valueless and intended to have no use despite its memes and jokes. The co-creator Jackson Palmer launched the currency as a Bitcoin alternative that will reach a broader demographic with 1-minute block intervals made it faster than other blockchains at the time. The coin has since seen unprecedented success in the past few years and caught up with the attention of retail investors and mainstream outlets worldwide and billionaires like Mark Cuban and Tesla’s CEO Elon Musk.
“To kinda quote a movie “Doge keeps going up, but our pricing at https://t.co/F0mbQjy21C stays the same”. We just set a 24 hour record for Merch Sales in Doge ! 🚀🚀🚀 Put that Doge to work ! https://t.co/F0mbQjy21C https://t.co/JmZfOpkPgH
— Mark Cuban (@mcuban) April 16, 2021”
DOGE netted over 19,676% to investors over the past year, 52% in the week and 200% in one day. DOGE pumped 200% with supporters now calling for a price surge to $1 which reached a supply of $129 billion could reach up behind BTC and ETH:
“DOGE $1 today! #DOGE #dogecoin
— Ben Phillips (@BenPhillipsUK) April 16, 2021”
What’s interesting is that the rest of the crypto market moved downwards while DOGE increased. BTC tumble by $3,500, ETH by $300, BNB by $50. Some traders of the coin were burned at least the data from analytics tool byBt showed over $680 million worth of DOGEcoin positions that were liquidated or used as collateral for traders to place bigger bets.
$493 million worth of liquidates came from the “short positions” or from the traders that were betting on DOGE prices to move downwards. Binance traders saw about $220 million worth of liquidations followed by Huobi at $199 million and OKEX at $60 million.
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