Dogecoin two folds from mid-April value. The cryptocurrency has grown by 45% in the previous few days. The coin’s value decreased to almost Rs 16 by April end. But it saw a whopping surge of 45% on Monday night when its value grew up to Rs 51. In terms of market capitalization, DOGE has surpassed automaker Honda Motor Co. Ltd because of the latest hike. The latter owns a market cap of $54.52 billion whereas DOGE has grown past $86 billion.
This is an important development. Billy Markus, co-creator of Dogecoin, currently revealed that he sold off all his coins in 2015 so as to buy a Honda Civic. He further added that he never went on to purchase the car. He spent $10,000 earned from the Dogecoin sale to pay his rent.
Least did Markus know that his meme currency will become one of the hottest digital currencies worldwide. Software engineers Jackson Palmer and Billy Markus created Dogecoin as a joke in 2013. This was never meant to be a serious cryptocurrency. The Market capitalization of Dogecoin also puts it ahead of firms like Vodafone Group Plc and Emerson Electric Co.
According to CoinMarketCap statistics, by market cap, the Shiba Inu-themed cryptocurrency is recently the 5th-largest cryptocurrency. Among the cryptocurrencies, Dogecoin has given the highest returns in 2021. While Bitcoin has yielded 91.29% returns, Doge has grown by over 800%.