The joke cryptocurrency Dogecoin (DOGE) touched a fresh all-time high in the early hours of Wednesday, crossing the much sought-after 69 cent mark.
What Happened: DOGE touched $0.6953 minutes before press time. The meme cryptocurrency now has a market capitalization of $89.70 billion, which it puts ahead of Snap Inc (NYSE:SNAP), which has a valuation of $84.98 billion and General Motors Company (NYSE:GM), which has a market cap of $80.24 billion.
See Also: How to Buy Dogecoin (DOGE)
DOGE has skyrocketed 13,955.4% since the year began, leaving behind Bitcoin (BTC) and Ethereum (ETH) in terms of year-to-date gains. BTC has risen 87.84% and ETH 342.75% since the year began.
At press time, BTC traded 3.2% lower at $54,268.39, while ETH traded 4.04% lower at $3,244.69.
Why It Matters: The 69-cent level, apart from its sexual connotations, is significant because the so-called “Doge Army” tried to pump the coin to that mark on “Doge Day.”
Doge Day was declared to be on Apr. 20 by members of the community attached to the cryptocurrency. The date itself is linked to the number 420, which is associated with the smoking of cannabis.
Investors on social media meanwhile are gunning for ever-higher new highs with loftier valuations.
Screenshots Of Price Discussions On r/Dogecoin, A Reddit Discussion Forum
DOGE was second in terms of trending tickers on Stocktwits list of top 10 trending streams, the top spot was taken by Ethereum Classic (ETC), which traded 47.08% higher at $78.95 at press time.
Photo by Play Your Place on Flickr
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