The price of Dogecoin has apparently increased without any pressure from prominent figures on social media or major developments in the project.
According to CoinMarketCap, the price of Dogecoin (DOGE) is over $ 0.18 at the time of publication, with a market capitalization of around $ 23.8 billion. In the token’s latest rally, the price rose more than 63% in the past 24 hours, exceeding both Uniswap (UNI) and Litecoin (LTC), becoming the eighth largest cryptocurrency by market capitalization.
In the last few days, more and more retail stores have adopted the currency as a means of payment. On Tuesday, a popular Miami nightclub announced it would accept DOGE as payment for tables, drinks and goods when it reopened.
Dallas Mavericks owner and DOGE advocate Mark Cuban too reported The basketball team’s store had sold more than 122,000 DOGE worth of merchandise since the token was first accepted in March – more than $ 16,000 at the time of publication. Cubans said the team will “never sell a single doge”.
Though Tesla has CEO and DOGE enthusiast Elon Musk tweeted The recent rally, one of his memes in the midst of the token’s price surge, may simply reflect the climate surrounding the crypto market. Mainstream media attention has mostly focused on Coinbase’s COIN stock listing on the Nasdaq this week as both Bitcoin (BTC) and Ether (ETH) prices hit new highs.