The crypto room continues to reveal new milestones, with the latest Dogecoin (DOGE) joining the top ten list. Dogecoin, a cryptocurrency founded by Billy Markus and Jackson Palmer in 2013, has been gaining popularity recently, as Santiment confirms.
The on-chain metrics provider explained the new milestone from DOGE:
“Dogecoin really rose to the eighth largest cryptocurrency asset by market cap after a massive + 313% week to break the top 10 and hit an ATH of 0.2917 a few hours ago.”
Originally invented as a “joke currency” based on the meme “Doge” with a Shina Inu dog Altcoin has stood up to all odds to emerge victorious in the crypto room, despite the support of famous personalities such as Elon Musk, CEO of Tesla, and American rapper Snoop Dogg.
At one time, Elon Musk stated that Dogecoin was “the people’s crypto”. His comments sparked renewed interest from more conservative investors, especially those who had sold off after a massive rally for the coin to reflect GameStop’s gains in the cryptocurrency ecosystem.
Dogecoin is accepted as a payment option by the Dallas Mavericks of the NBA
As Dogecoin continues to gain traction, the eighth largest cryptocurrency based on market capitalization has been accepted as a payment option for tickets and merchandise purchased online by the NBA’s Dallas Mavericks last month.
The Dogecoin hype created by Elon Musk appears to have continued and snowed in as the meme-based cryptocurrency continues to become mainstream.
For example, DOGE is now available at 1,800 ATMs in the US. Coinflip, the largest network of Bitcoin ATMs, announced that Dogecoin has been added as a purchase option due to DOGE’s “popularity and recent mass adoption”.
A partner at SpartanGroup believes It would be interesting if millennials chose DOGE as their preferred store of value / currency over gold and the US dollar, as they have been a major contributor to DOGE’s skyrocketing price.
Image source: Shutterstock