Yahoo Finance Dogecoin No Longer Pup After Tripling Past $50B, Exceeding UK Bank Barclays
Dogecoin (DOGE), the popular cryptocurrency created as a joke in 2013, now has a market cap of $52 billion after tripling in the past 24 hours.
That’s bigger than several major banks such as Barclays, which has a market cap of $44 billion.
For comparison, Lloyds Banking Group has a market cap of $42 billion, Bank of New York is at $42 billion and Credit Agricole is at $43 billion.
DOGE has rallied nearly 160% in the past 24 hours and is trading around $0.37 at press time. It’s climbed sixfold over the past week.
DOGE’s market cap has also surpassed bitcoin cash (BCH) and chainlink (LINK) and is now ranked as the fifth-most valuable cryptocurrency, according to Messari.
On Thursday, the smoked meat stick vendor Slim Jim gave Dogecoin a shout-out on its earnings call after several DOGE snack memes populated social media.
DOGE trading volume is now higher than ETH at roughly $60 billion in past 24 hours versus $43 billion, respectively.
It’s important to note the market capitalization of DOGE is based on an assumed number of outstanding tokens, but many of them are presumed to be no longer in circulation.
Related: NBA Top Shot Firm Dapper Labs Raising Funds at $7.5B+ Valuation: Report
Read More: Why We Should Take Dogecoin Seriously
Back in 2013, $16,000 worth of dogecoins vanished when a storage service wallet was hacked. The incident resulted in over 30 million missing coins, according to CNET.
