Dogecoin is Worth 12 Cents: The Next Bitcoin?

Elon musk jokingly tweeted about the crypto Dogecoin. But his joke turned out to be true. Dogecoin has reached its all-time high according to the Coinbase data. They confirmed it has risen up to 70.22%  in the last 24 hours – the highest ever recorded.  At the moment, this crypto is valued at $0.122680 or almost 12 cents.

The market cap of DogeCoin — which started as a joke and is literally classified as “a meme coin” — is currently over $14 billion. This is the highest-ever for the cryptocurrency, and the result of a semi-ironic movement that’s involved thousands of buyers, tens of thousands of online posters, and the world’s richest man, Elon Musk.

In early January, each token was worth less than one cent. In late January, when both the GameStop and DogeCoin movements hit their stride, the value of DogeCoin shot up to 7.5 cents, well over a 10-magnification, before sliding down to 2.5 cents. The coin has spent the past few months in the three- to the seven-cent range. On Sunday, its price began to rise, from around six cents, before it smashed the 12-cent milestone.

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