DogeCoin (DOGE) Shoots To An All-Time High of $0.70 Becoming the Fourth Largest Crypto

05. May 2021 Posted by Akolkar B on News

It’s a massive show in the altcoin space currently, but we aren’t talking about Ethereum here. Meme-cryptocurrency Dogecoin (DOGE) has blasted in the last 24 hours to hitting its all-time high of $0.70 and becoming the fourth largest crypto by market cap.

Just in the last 24 hours, DOGE price has surged more than 50% with its market cap exploding all the way to $90 billion. In its upward journey, DOGE has toppled some of the strongest cryptocurrencies like Ripple’s XRP, Tether (USDT), Polkadot (DOT), and many others.

Since the beginning of 2021, the DogeCoin (DOGE) price has multiplied 175x delivering a mind boggling 17400% returns only in the last four months. DogeCoin has been backed by some of the most popular personalities and billionaires like Elon Musk and Mark Cuban.

Elon Musk has been ardent supporter of DogeCoin for a long period and has been responsible several times for its price rally. With its recent price rally, Dogecoin has also outgrown some of the biggest corporates in the world.

As per data by Inifite Marketcap, ay $86 billion valuations, Dogecoin is bigger than oil and gas giant British Petroleum. Besides, it is now also bigger than some of the big-tech companies like Snapchat and Twitter.

As it turns out, during the Dogecoin (DOGE) price rally on Tuesday, May 4, popular cryptocurrency trading app Robinhood crashed followed by massive trading rush. The crypto trading platform was facing a massive outage. This was for the second time within a month that Robinhood faced outage after the Dogecoin rally.

Confirming later that things have been normal, Robinho tweeted: “Crypto trading is now fully restored. We know some customers may have experienced intermittent issues earlier. We’ll continue to monitor the situation closely and we’re sorry if you were impacted”.

Following the strong rally in the DOGE price, a number of popular crypto trading platforms have rushed to add support for Dogecoin trading. Earlier on Monday, May 3, eToro added support for DOGE and on Tuesday, May 4, crypto exchange Gemini from crypto billionaires Winklevoss twins added the support.