coindesk.com
Dogecoin (DOGE), the popular cryptocurrency that emerged as a joke in 2013, now has a market cap of $39 billion after doubling in the past 24 hours.
That’s almost the size of major banks such as Barclays, which has a market cap of $44 billion.
- For comparison, Lloyds Banking Group has a market cap of $42 billion, Bank of New York at $42 billion, and Credit Agricole at $43 billion.
- DOGE has rallied nearly 160% in the past 24-hours and is trading around $0.35 at press time. It's climbed five-fold over the past week.
- DOGE’s market cap has also surpassed bitcoin cash (BCH) and chainlink (LINK) and is now ranked as the seventh most valuable cryptocurrency, according to Messari.
- On Thursday, the smoked meat stick vendor Slim Jim gave Dogecoin a shout-out on its earnings call after several DOGE snack memes populated social media.
It’s important to note that the market capitalization of DOGE is based on an assumed number of outstanding tokens, but many of them are presumed to be no longer in circulation.
Back in 2013, $16,000 worth of dogecoins vanished as a storage service wallet was hacked. The incident resulted in over 30 million missing coins, according to CNET.