October 2, 2022

Dogecoin Sets Another ATH and Looks Set to Flip BNB For the 3rd Spot

2 min read


Dogecoin today set another brand-new ATH of$ 0.736 rising over 20% to restore the majority of the losses from the past week. The meme currency has defied all odds to register brand-new ATHs and even make it to the top-5 cryptocurrency list by market cap and if the current rate momentume continues it would overtake Binance Coin for the 3rd area today itself.

Doge Price
Source: TradingView Doge’s present market cap is$92.4 billion while Binance Coin’s current market cap stands at$97 billion and chances are the meme currency could be just behind Ethereum and Bitcoin to take the 3rd area. From being a meme currency to becoming the thrid largest digital asset by market cap is rather a feat for the digital

asset. Source: CoinmarketCap The Doge bull run is being sustained by social networks frenzy especially TikTok since of which Doge trading volume on most of the mainstream crypto exchnages consisting of Binance has actually increased in the current times.

Elon Musk SNL Skit Fueling the Current Doge Bull Run

Elon Musk, the serial enterpenaur and the informal CEO of Dogecoin is the factor behind the current rate pump as he has actually teased his SNL appearence set for today with a Doge Twist. While Musk had earlier cautioned investors about crypto financial investment, his continuous shilling of the meme currency has become a trend of sort. In reality, one specific analysts started buying Doge everytime Musk tweets about it and he has made rather a profit from the sensational run of the Dogecoin.

While Musk’s tweet has actually sustained Doge prices time and again, his business Tesla had actually acquired $1.5 billion in Bitcoin in Feburay and offered 10% of the holdings to extend their revenue for the very first quarter. On the other hand Dogecoin has likewise being actively added by lots of mainstream as a form of payment, and Doge community beleive that should suggest growing adoption of the meme currency.

As Elon Musk is set to take center stage on SNL today, numerous Doge financiers beleive the digital property could quickly go beyond $1 rate today.

The post Dogecoin Sets Another ATH and Looks Set to Flip BNB For the 3rd Spot appeared initially on Coingape.