DOGECOIN Becomes 10th-Largest Cryptocurrency By Market Capitalization After Flipping Polkadot

Data available on CoinCu shows that Dogecoin (DOGE) has flipped Polkadot (DOT) to become the tenth most valuable cryptocurrency in the world by market capitalization.

DOGE and DOT have market capitalizations of $10,949,701,938 and $10,480,467,284, with DOGE ahead by more than $500 million.

DOGECOIN is currently trading at $0.084 on cryptocurrency platforms, representing a 4.4% growth in 24 hours, when other prominent cryptocurrencies such as Bitcoin and Ethereum have only had a 0.1 percent increase.

While DOT had a 24-hour volume of $832,177,623, DOGE had a 24-hour volume of far over $1 billion.

The new highs of DOGECOIN can be linked to the recent announcement from Elon Musk, the billionaire CEO of Tesla and SpaceX. Musk said Tesla merch can be bought using DOGE, noting that such a provision will be made for SpaceX merch soon.

However, a Twitter user believes the current feat of DOGECOIN is only temporary

The crypto market, in general, has been in a bleeding trend since last December 2021, with BTC losing over 55% since its last all-time high (ATH). Notably, Polkadot reached its (ATH) in November 2021 at $54.96. It has since lost 82% of its value, trading at $9.30. On the other hand, DOT hit its ATH in May of 2021 at $0.73. It has fallen by over 88% since its ATH.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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