Meme cryptocurrency Dogecoin has surpassed 10 cents in value, marking its all time high with a market cap of $17 billion.
Cryptocurrency markets as a whole have been on the rise, with Bitcoin and Ethereum reaching record highs.
Dogecoin began spiking in value leading up to the initial public offering of Coinbase, one of the world’s largest crypto wallet and trading platforms.
Shortly after Coinbase went public, Dogecoin spiked to 11 and a half cents and is currently sitting at 13 cents prior to this mornings market.
Dogecoin’s recent success is in some part due to social media buzz and influence by billionaire Elon Musk.
Users online have been buying and holding Dogecoin in hopes of “sending” it to 10 cents. This year, Dogecoin has seen a staggering 2000% gain.
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