- Dogecoin (DOGE) continues to increase its market capitalization to almost $100 billion.
- DOGE is the 4th largest cryptocurrency in terms of market capitalization.
- Also, DOGE price remains stable despite market volatility.
Dogecoin (DOGE) continues to take the crypto world by storm. The altcoin increased its market capitalization to almost $100 billion and is now the 4th ranking crypto.
To clarify, Dogecoin’s huge rise in market cap enabled the crypto to dethrone Ripple (XRP) from its position. As a result, DOGE now sits at the 4th position after Binance Coin (BNB) based on CoinMarketCap.
Furthermore, DOGE is one of the cryptocurrencies that remained strong despite the market decline in the past week. Specifically, DOGE recorded a 30-day increased rate of over +105% while the other altcoins dropped by almost -10%. Truly, this is proof of how stable DOGE is in this period of pandemic and market chaos.
Regarding the supporters of the token, Elon Musk, the CEO of Tesla is one of the famous people that continue to tweet about the meme coin. Interestingly, every time Musk tweets about Dogecoin, the price of the crypto boosts, a scenario that can’t be explained why and how.
SNL May 8
— Elon Musk (@elonmusk) April 28, 2021
Besides Musk, famous celebrities such as Snoop Dogg and Lindsay Lohan are also Dogecoin supporters. Meanwhile, some people in the crypto community express their reaction towards this DOGE surge. One of them is the crypto enthusiast and analyst Lark Davis who expressed his thoughts in a tweet:
— Lark Davis (@TheCryptoLark) May 5, 2021
Moreover, DOGE is not the only altcoin in the crypto market that is surging right now. In fact, most digital assets are back on their feet. For this reason, we can say that the crypto space is already one step closer to dominating the global financial sector.