DoGE Gains $8 Billion in-flow in 24 hours, Flipping ADA By Market Cap
- The market cap has surpassed the $4 billion mark.
- After gaining 130% over seven days, the meme coin is now worth $0.1351
- Six weeks ago, DOGE traded at $0.06156 with a market capitalization of $8 billion.
After Elon Musk’s last week’s takeover of the social networking platform Twitter, investor appetite for the most popular meme token has skyrocketed significantly.
According to CoinMarketCap, Dogecoin (DOGE), which is the market tracking website, has flipped Cardano [ADA] to become the eighth most popular cryptocurrency by market capitalization.
The current trading price for the meme coin is $0.1351. There has been over 60% appreciation in the last 24 hours, which puts its seven-day cumulative performance higher than 130%. Coin Edition reported six weeks back that DOGE had surpassed DOT as the tenth-largest cryptocurrency in terms of market share. DOGE was trading at $0.06156 at the time with a market cap of just $8 billion.
According to market data, the DOGE meme token has seen its value increase by more than 100% in just one month. Current market values of DOGE and ADA exceed $18 billion and $14 billion respectively. DOGE is currently leading by more than four billion. Notably DOGE claimed the $4B increase over Cardano in just 24 hours.
Another interesting fact about DOGE is that the trading volume for ADA in the last 24 hours was over 140% higher than ADA. While nearly $15 billion worth of buying and selling happened with the meme token, ADA’s 24-hour trading volume is below $1 million. Nonetheless, the Cardano token’s performance within the previous seven days has been impressive, with over 19% gains.
Since last week, the crypto market has been bullish. BTC gained over 9%. With over 25% growth in just seven days, Ethereum (ETH) was second in the market. After its blockchain migrated into the efficient proof-of–stake consensus, Ethereum’s value is now $1,635.
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