- Doge hits new ATH.
- Factors driving DOGE to new ATH
Meme cryptocurrency, Dogecoin, has continued its upward rally, this time surging to a new ATH price at $0.3. A triple-digit price surge for the currency has pushed it to become the eighth largest cryptocurrency by market capitalization. The meme coin’s market capitalization is now worth more than the value of mobile phone makers, Motorola, and airline company Delta airline.
Its surge to a new ATH today is not surprising as Dogecoin has been the cryptocurrency of the moment in the past weeks. It surged by 122 percent last week, and on Monday, it recorded a daily surge of 80 percent.
The crypto has surged now by 400 percent to get to the new ATH it recorded today. On Monday, Dogecoin broke into the top 10 cryptocurrencies, and days after, it has climbed to number 8. AssetDash, an analytical firm, ranks doge as the 400th largest asset by market capitalization, placing it above the firms mentioned above known globally.
Behind Dogecoin recent price surge
The crypto has received support from some of the most popular figures globally, which has one way or another contributed to its recent price surge. Celebrities have not stopped adopting the crypto, with billionaire investor Mark Cuban most recently enabling Doge payment for his basketball team, Dallas Mavericks, for tickets and other merchandise.
Celebrities known around the globe, like the World’s richest man, Elon Musk, have not stopped vocally supporting the meme coin with Elon investing some of the coin for his son. Similarly, celebrities like SnoopDog, Lilpump, among many others, have endorsed the coin previously.
Dogecoin has been the best performing large-cap crypto during the week despite retracing to $0.25 earlier today. It reaffirmed its spot in the top 10 Cryptos by pushing to number eight and has surged more than BTC, ETH, BNB, and XRP over the past week. This significant amount of surge in price of the cryptocurrency cannot be unconnected to celebrity endorsement and constant support from Elon Musk.