Dogecoin has achieved a market value of $71 billion, surpassing that of the Nigerian stock market —$55 billion.
Celebrity advocacy for Dogecoin has been on a high recently. So much so that the coin has the crypto community discussing if it could ever get to $1.
Major Updates
- Dogecoin's market value is worth $71 billion.
- Dogecoin’s surge is fueled by the “Dogefather” and other celebrities.
- Experts speculate that the coin could reach $1.
- Dogecoin prices have surged by around 100% this week alone.
Recently, Dogecoin has gained abundant glory from the “Dodgefather” thereby significantly impacting the coin’s prices. Throughout this week alone, Dogecoin has surged by over 100%.
The price rally has taken the coin to a total of $71 billion in market value. This has significantly exceeded that of the entire Nigeria stock market, which sums up to $55 billion or N20.8 trillion. These statistics and values make Dogecoin amongst some of the topmost valuable assets there are.
Dogecoin is currently fourth on the market value ranking, an impressive achievement for a coin originally created as a joke.
Apart from support from the world's second-richest man, SpaceX and Tesla CEO Elon Musk, other forms of organizational adoptions have also significantly influenced Dogecoin prices. Just recently, the sports brand Oakland Athletics has just announced they will be selling their game tickets to fans using Dogecoin.
The popular NBA team, the Dallas Mavericks, was first to hop on this trend several weeks ago when they announced the sale of merchandise and tickets using Dogecoin. They further explained that all Dogecoins they received would never be sold.
Many more celebrities have chosen to celebrate the coin in their ways. They include Snoop Dogg, Mark Cuban, Mia Khalifa, and many others. The most recent are Snoop Dogg and Elon musk.
Hip Hop artist Snoop Dogg first gave himself the nickname “Snoop Doge” shortly before the celebration of 420, now referred to as Doge day. Elon Musk also gave himself the nickname the “Dogefather.”
Conclusion
Overall popularity and success of the coin have blown away both the coin’s creators, Billy Marcus and Jackson Palmer. Their joke coin which they had created back in 2013 had covered high grounds in the crypto community. What everyone is talking about now is if the coin could one day cost $1.
Question of the Day
Do you think Dogecoin has what it takes to reach $1?
