The floofy currency saw massive gains on Friday amid major developments in the global cryptocurrency market, with many execs in the US tech industry praising the skyrocketing altcoin.
Cryptocurrency altcoin Dogecoin has seen a meteoric rise in global markets after climbing 120 percent on Friday.
The Shibu Inu-inspired cryptocurrency skyrocketed 320 percent in the last month to 28c per coin on Friday, or 4,900 percent for 2021. Pricing for Dogecoin also has a market capitalisation of more than $30bn, according to media reports.
“We definitely broke the internet today,” Apple chief executive Tim Cook tweeted on Friday. “I’m honestly lost for more words”.
The news comes after Bitcoin reached record highs of nearly $65,000 USD in recent weeks and amid cryptocurrency exchange Coinbase’s initial public offering on the Nasdaq on Thursday.
Bitcoin currently remains at $60,884.40 USD. Ethereum, the second most valuable cryptocurrency after Bitcoin, surpassed $2,500 per token for the first time in history.
Dogecoin is a derivative of the Luckycoin blockchain algorithm and was built by Adobe data scientist Jackson Palmer and IBM developer Billy Markus in 2013 as a joke on the rising number of altcoins entering the cryptocurrency market.
The altcoin can be purchased via official blockchain wallets or cryptocurrency exchanges such as Binance and BitPanda.
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