Dogecoin price has increased by more than 27,258% in the past year alone, market cap bigger than Heineken, Nintendo and BMW
Dogecoin (DOGE) price currently outperforms nearly any other asset class, real estate, stocks, or even most cryptocurrencies. This humorous cryptocurrency has been trading at over $ 0.77, reaching a market cap as high as $ 90 billion.
DOGE/USD 4-hour chart | Source: TradingView
Dogecoin price is up more than 50% on the day, 170th largest market cap in the world
For ease of comparison, the DOGE market cap is larger than the National Bank of Australia, American brewer Heineken, Japanese game maker Nintendo, German carmaker BMW, and public giant InfoSys Indian information technology.
In fact, Dogecoin is the 170th most valuable equity asset in the world according to this list. This is not a bad result for a joke in the crypto world that has not had any positive developments and no other specific use cases. However, DOGE still has faster transaction times than many large-cap cryptocurrencies and lower transaction fees.
$1,200 stimulus is now worth $340,000$doge
— ฿ullƉoge (@CryptoBull) May 4, 2021
According to CoinGecko, Dogecoin has grown by more than 784,754.0% since it was launched in 2013. That means if you previously invested $ 100 in Dogecoin, that amount will now turn into $ 121,000 today (when charged at transaction price at $ 0.68).
And if you bought $ 100 when Dogecoin fell to $ 0.00086 in May 2015, today that figure will amaze you at $ 767,000 (unimaginable to buy $ 1,000 or $ 10,000 then how will it all be).
Thus, DOGE has increased 54.2% in the past day, 150.3% in the past week, 108.8% in the past two weeks, 1074.7% in the past month, and more than 27258.4% in the past year. These numbers make Dogecoin one of the best “investments”.
The market cap is over $ 90 billion at the time of writing. While less than half of Ethereum ($ 379 billion) and less than a tenth of Bitcoin ($ 1 trillion), DOGE is also showing itself as a formidable competitor to Binance Coin (BNB).
Also according to that, Luke Martin, host of the Profit Maxmalist show, also made the latest statements about DOGE. According to him, DOGE transactions depend on many factors. In it, Elon Musk will be the one to decide when the game starts and a lot of people will miss out.
Trading $DOGE is like an advanced game of musical chairs except:
•Elon decides when the music starts
•The top 1% of wallets decide when music stops
•There’s $70billion on the line
•More than 50% of players won’t find a chair
One of the most interesting coins for this alone.
— Luke Martin (@VentureCoinist) May 4, 2021
Meanwhile, some people are expressing caution when investing in DOGE.
Spencer Bogart, Blockchain Capital’s general partner, said in a recent interview:
“You know, it’s a functional network, so we will give it that credit (that it does work). But there are no real users, no developers building on it.”
He argues that Tesla CEO Elon Musk is infatuated with Dogecoin as one of the catalysts for the asset’s price-performance:
“He likes jokes. You know, he’s a fun guy. He likes memes, and Doge is the perfect target for it.”
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