Photographer: Yuriko Nakao / Getty Images
Photographer: Yuriko Nakao / Getty Images
Dogecoin soared to its highest ever Sunday as Elon Musk tweeted “Who let the Doge out” during the rally.
The Shiba Inu themed digital coin surpassed 8 cents for the first time, just a week after it crashed to 2.5 cents and a protest on Reddit. It rose 53% in the past 24 hours to 8.2 cents from 5:45 PM in New York, according to Sunday CoinMarketCap data, posted by the recent record of 7.8 cents in late January.
It now has a market value of $ 10 billion, making it the 8th largest cryptocurrency.
The price recovered in the past week Tesla Inc. co-founder Elon Musk returned from his self-imposed Twitter hiatus to send a series of tweets promoting Dogecoin.
Started as a joke in 2013, Dogecoin has seen a wave of renewed popularity on social media driven by the speculative frenzy of private investors.
Bitcoin has also rallied this week, at a record high of $ 40,000 before any winnings are split.
(Updates with new record price.)