Dogecoin Price Tracker, Updates as Cryptocurrency Value Soars
On Thursday, Dogecoin (listed as DOGE on the cryptocurrency market) was priced at $0.056327 with a 24-hour trading volume of $6,504,426,940, at the time of reporting, according to data from CoinMarketCap, which monitors cryptocurrency values.
The latest price marked around a 74 percent rise in the last 24 hours, while the latest trading volume was a nearly 165 percent jump in the same time period, at the time of publishing, according to CoinMarketCap.
On Wednesday, the Dogecoin price was reported to have stabilized at around $0.033, according to Coindesk, which also looks at cryptocurrency prices.
The joke cryptocurrency, which launched back in 2013, hit record levels last Thursday when its price soared by over 800 percent, reaching around $0.082, raising its market value to around $7 billion, Coindesk reported at the time.
Dogecoin has seen a resurgence following the recent GameStop stock-buying frenzy, which was fueled by investments from users on the subreddit r/WallStreetBets.
Inspired by the GameStop share price hike, members of the subreddit r/SatoshiStreetBets — which describes itself as “the crypto version of WallStreetBets” — attempted to do the same for Dogecoin.
The Dogecoin price surge also came after a controversial move by Robinhood, the stock trading app that restricted its users from GameStop stocks.
Dogecoin’s rise has sparked renewed interest in other cryptocurrencies, including Bitcoin, the world’s first and largest cryptocurrency based on market cap price, as well as Ethereum, the second-largest cryptocurrency by market cap price.
The market cap price measures “the total market value of a cryptocurrency’s circulating supply. It is analogous to the free-float capitalization in the stock market,” CoinMarketCap explains.
The price of Bitcoin (listed at BTC on the cryptocurrency market) rose for the third day on Wednesday, leaning towards the higher end of its range in the past couple of weeks between $30,000 and $36,000, according to Coindesk.
Bitcoin’s price was listed as $38,517.06 on Thursday, marking around a 5.6 percent jump in the past 24 hours, at the time of publishing, according to CoinMarketCap.
The price of Ethereum (listed as ETH) surpassed $1,500 for the first time on Wednesday, hitting a record high of $1,576.7 in early London trading that day, Reuters reported.
On Thursday, the price of Ethereum was listed as $1,672.29 Thursday, marking around a 7.6 percent rise in the past 24 hours, at the time of reporting, according to CoinMarketCap.
Ethereum has seen a year-to-date rise of around 120 percent, while Bitcoin’s year-to-date gain was reported to be around 30 percent, according to Reuters.
Meanwhile, the GameStop stock craze has been cooling off this week, marking its biggest single-day price drop ever on Tuesday when the share value closed at $90. Tuesday was the first time that the stock closed below $100 per share in over a week. On Wednesday, the GameStop share price closed at $92.41.