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On Friday (April 16), Dogecoin ($DOGE), once again, confounded most crypto analysts and traders by surging over 200% to flip Polkadot, Cardano, and Tether to become the fifth-most valuable cryptoasset by market cap.
Data by TradingView indicates that, on crypto exchange Binance, Dogecoin hit $0.4529 at 13:35 UTC, which is currently today’s intraday high. At the time of writing (13:56 UTC), Dogecoin is trading around $0.4041, which means that in the past 24-hour period, the Dogecoin price has surged an incredible 202.47% vs USD.
According to data by CryptoCompare, as of 14:02 UTC on April 16, Dogecoin is the #1 cryptoasset by 24-hour total trading volume (in USD) across all exchanges.
Dogecoin’s return on investment (ROI) vs USD for the past 7-day, 14-day, 30-day, and 1-year periods are 540.9%, 541.8%, 573.7%, and 20,216.4% respectively.
During the past few months, two billionaire have done a lot to help Dogecoin get to where it is today. These two people are Tesla CEO Elon Musk and Dallas Mavericks majority owner Mark Cuban. Both have talked numerous times about Dogecoin on Twitter and during interviews.
For example, Cuban sent out this important tweet on Wednesday (April 14):
FYI, the Mavs sales in @dogecoin have increased 550pct over the past month. We have now sold more than 122k Doge in merchandise ! 🚀🚀🚀 We will never sell 1 single Doge ever. So keep buying @dallasmavsshop https://t.co/li32cdtcED
— Mark Cuban (@mcuban) April 14, 2021
And Musk sent out the following tweet yesterday (April 15):
Doge Barking at the Moon pic.twitter.com/QFB81D7zOL
— Elon Musk (@elonmusk) April 15, 2021
For those members of the crypto community who do not hold any Dogecoin and are angry to see Dogecoin have a higher market cap than their favorite cryptoassets, popular pseudo-anonymous crypto analyst “Kaleo” offered these words:
Remember the coolest part about $DOGE pumping is the money always ends up flowing into other alts when it's done.
— K A L E O (@CryptoKaleo) April 16, 2021
Cryptocurrency social media analytics platform LunarCRUSH said a short time ago that for the past 18 hours Dogecoin had the most amount of attention on social media platforms:
$DOGE with the #1 AltRank™ for 18 hours in a row and nearly half of the last seven days.
— LunarCRUSH Social Listening for Cryptocurrencies (@LunarCRUSH) April 16, 2021
24-Hour Activity
💎211.0% price change
💎410,051 social mentions
💎812,992,765 social engagementshttps://t.co/BAyITJB6v2 #dogecoin pic.twitter.com/reokxcJ06K
Featured Image by “422737” via Pixabay.com
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a high risk of financial loss.