February 5, 2023

Dogecoin Soars Another 8%, Re-Enters Crypto’s Top Ten

Dogecoin Soars Another 8%, Re-Enters Crypto’s Top Ten

Dogecoin’s rally continued on Friday as the premiere meme coin rose another 8% to $0.085. 

This put the cryptocurrency back into the top ten digital assets by market cap.

  • According to CoinGecko, Dogecoin is now the 9th largest cryptocurrency, worth over $11.6 billion in total. The 10th largest is Solana, now worth $32 per unit and $11.5 billion in total. 
  • Dogecoin is up 43% over the past 7 days, showing especially strong growth relative to its rallying competitors. Bitcoin has risen 8.5% within that timeframe, while rival meme coin Shiba Inu has gone up 19.7%.
  • Dogecoin is the favorite cryptocurrency of Elon Musk, who often tweets about the asset and speaks with its creator, Billy Markus. The coin has a tendency to react to Elon Musk-related news, such as when he began accepting it for payment at both Tesla and SpaceX.
  • Elon Musk bought Twitter this week, firing its executives and promising to put an end to spam bots on the platform. Crypto Twitter has been highly optimistic over the news. 
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