Business
#Dogecoin is soaring, near $.10 for the first time ever
The price of dogecoin spiked more than 25% on Tuesday, shooting the value of the cryptocurrency originally designed as a joke to nearly $0.10 per coin as both the price and popularity of crypto reach historic levels..
At 2 p.m. Tuesday, dogecoin was trading at around $0.09 per coin—just below a record high of over $0.095 just before 1 p.m.
At its highest point, the price was up more than 25% from the start of the day, mainly driven by a massive midday surge that took the price from under $0.08 late in the morning to $0.095.
The price surge comes amid a significant increase in volume, with CoinMarketCap reporting a 56% rise in volume over the past 24 hours.
Major cryptocurrencies like bitcoin and ethereum have also soared to record levels, with bitcoin topping $63,000 for the first time ever on Tuesday morning. Retail investors have been extremely bullish lately when it comes to crypto, ahead of the highly anticipated IPO for cryptocurrency exchange platform Coinbase on Wednesday—even though the vast majority of fund managers believe the high prices are the result of a bubble. Using crypto as a form of payment has also gained much more acceptance among large companies lately, including the likes of Tesla and PayPal. Dogecoin, as one of the smaller crypto tokens, has been subject to much greater volatility than its more mainstream counterparts like bitcoin and ethereum. Some of the biggest spikes ever for dogecoin came immediately after it was mentioned by Elon Musk on Twitter, for example.
-
News1 day ago
Tinubu’s government vows to expose and flush out Nigerians working with fake certificates
-
Celebrity Gossip & Gist1 day ago
“Please return my money back, help me” – Actress Shan George cries out as fraudsters clear N3.6m from her bank account, sheds tears (Video)
-
Foreign1 day ago
China and Russia are working on a joint invasion of Taiwan, US intelligence
-
News1 day ago
Lady loses life as friends throw her in boiling tomato