Dogecoin rose to just over $0.60 over the past 24 hours after eToro added it to its platform due to popular demand.
“You barked and we heard you!” announced eToro and said it was a “further expansion of crypto services.”
“Unlike bitcoin’s fixed supply and relatively slow block times, the supply of dogecoin increases at a steady rate, making dogecoin inflationary with faster and cheaper transactions – qualities that some say make it ideal for use as a real-world currency,” added eToro.
As of Tuesday, Dogecoin was up 50.56% at $$0.592160, with a session high of $0.611135.
FXStreet analyst Sheldon McIntyre said dogecoin has rallied around 250% since it dropped last April 23 and momentum is bullish for now.
Dogecoin’s market capitalization is currently $56.3 billion, making it the fifth most valuable cryptocurrency in the world.
Its popularity and utility have also been increasing recently after Visa and PayPal integrated it into their payment system while Oakland Athletics started selling two-seat pods for 100 DOGE ($48.80) for its three-match series against the Toronto Blue Jays.