invezz.com
The crypto industry’s favorite cryptocurrency, the joke coin DOGE, recently skyrocketed following a number of events. The coin surged again today, going up by over 100% in the last 24 hours, and by around 350% in the last week, according to recent data. However, its YTD performance saw it rise by over 5,000%, while its yearly surge exceeded 12,600% gains.
Dogecoin outperforms every other crypto asset
Dogecoin is without a doubt the best-performing asset in 2021. It outperformed pretty much every other crypto in the last 24 hours, climbing to the 8th spot on the list of largest cryptocurrencies by market cap. Meanwhile, the coin’s price skyrocketed to $0.2637, which is a brand-new all-time high, which comes only a day after the previous one at $0.13.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
By moving to the eight spot, this joke-coin surpassed the likes of Litecoin (LTC), Chainlink (LINK), and even Uniswap (UNI) — the world’s largest DEX. As mentioned, the coin surged by 5,000% since the start of the year, and by 12,600% in the last 12 months.
This brought quite a surprising turn to the crypto market which seemingly even caught expert investors and traders by surprise. One example is Scott Melker, who tweeted about the new development saying that this is the first DOGE pump that he missed in years, but he is still more than glad to see it.
This is the first $DOGE pump I have missed in years, but I still absolutely love to see it. Favorite asset of all time, changed my life in 2017.
— The Wolf Of All Streets (@scottmelker) April 16, 2021
Happy for you guys who are in it, innit?
DOGE skyrockets while the rest of the coins start trading in the red
Interestingly, while DOGE continues to skyrocket, crypto industry’s other favorites, such as Bitcoin, Ethereum, Binance Coin, Cardano, and many others are trading in the red — at least when their daily performance is concerned. While they are all still in the green on a weekly basis, their daily performance has suffered after Turkey’s Central Bank recently announced that crypto payments will be banned starting April 30th.
The country is not banning coins entirely — they are still legal to buy, own, trade, and traders can even use their bank accounts to transfer fiat to crypto exchanges and buy coins. But, using crypto for payment for any goods and services will be illegal in two weeks’ time.