This dogecoin chart offers the clearest explanation for the buzz surrounding the ‘joke’ crypto
Dogecoin, dogecoin, dogecoin!
That must be what bitcoin holders are saying, lately. Owners of the world’s No. 1 crypto, like Jan from the 1970s-era sitcom, “The Brady Bunch,” must feel as if they have been living in the shadow of a more intriguing and compelling sister crypto.
For Jan Brady, that sister was Marcia. For bitcoin, it has been dogecoin, over the past year.
The numbers tell the clearest story, dogecoin hit a record value of 45.04 cents on Friday on CoinDesk, with a 24-hour trading volume of $69,485,678,473, according to CoinMarketCap.
Dogecoin DOGEUSD,
It is a stunning move for an crypto engineered as a joke back in 2013, and now championed by billionaire Mark Cuban, who now accepts doge as payment for tickets to his NBA franchise, and Tesla Inc. TSLA,
By comparison, bitcoin is down less than 1% over the past day and stands at $61,796 Friday afternoon. It is up a comparatively mundane 112% in 2021 thus far.
Traditional assets have seen downright pedestrian gains compared to the crypto offerings, albeit with far less volatility.
The Dow Jones Industrial Average DJIA,
The catalyst for gains for crypto are hard to peg but the moves have seen a renewed burst after the listing on Nasdaq of crypto platform Coinbase Global COIN,
Many are still warning that dogecoin is reflecting euphoria bubbling up in the market and caution that new investors could be greatly harmed by jumping into dogecoin and other crypto with both feet.
