Dogecoin, dogecoin, dogecoin!
That’s what bitcoin owners have to say lately. The owners of the crypt no. 1 in the world, like Jan from the sitcom from the 1970s, “The Brady Bunch”, must feel as if she lived in the shadow of a more interesting and convincing sister crypt.
For Jan Brady, that sister was Marcia. For bitcoin, it was dogecoin, in the last year.
MarketWatch / iStockphoto
The figures tell the clearest story, dogecoin hit a record 45.04 cents on CoinDesk on Friday, with a 24.4-hour trading volume of $ 69,485,678,473, according to CoinMarketCap.
Dogecoin DOGEUSD,
it has grown by 170% in the last day and has grown by over 7,252% so far this year, bringing its market value to over $ 40 billion, beating a number of millionaires on paper, eager to show their news on social media and announce their commitment to the “hodl” to the end.
It’s an amazing move for a crypto conceived as a joke in 2013 and now backed by billionaire Mark Cuban, who now accepts doge as payment for tickets to his NBA and Tesla Inc. franchise. TSLA,
CEO Elon Musk, who used his Twitter account to openly raise the price of the larger dog, drew criticism from some Wall Street investors.
By comparison, Bitcoin fell less than 1% in the last day to $ 61,796 on Friday afternoon. To date, it has grown by 112% worldwide.
Traditional assets recorded direct gains for pedestrians compared to cryptocurrency offerings, although with much lower volatility.
Dow Jones Industrial Average DJIA,
and S&P 500 SPX,
have risen by more than 11% so far this year and Nasdaq Composite Index COMP,
increased by 8.8% over the same period. Gold futures GC00,
meanwhile, they have fallen by more than 6% in the year to date.
The catalyst for earnings for encryption is hard to pin down, but the movements have seen a renewed explosion after the Coinbase Global COIN encryption platform was listed on Nasdaq.
Wednesday, an important moment for the digital assets complex.
Many still warn that dogecoin reflects the growing euphoria in the market and warn that new investors could be badly hurt by jumping into dogecoin and other crypts with both feet.