Dogecoin [DOGE] tapped fresh lifetime highs earlier on Tuesday within the wake of two new exchange listings.
The Shiba Inu dog-branded cryptocurrency rose to $0.577 USD with today’s trading hours, topping the previous record price of $0.47 USD registered on 6th April, consistent with CoinMarketCap data. In the year so far DOGE is up 11,000%.
The latest leg higher comes each day after multi-asset brokerage platform eToro revealed support for the cryptocurrency, citing strong client demand. The new listing opens dogecoin to some 20 Mln users spread across the world. Then earlier on Tuesday morning Gemini also added that it will too support the meme-based crypto, adding fuel to DOGE’s upward trajectory.
Additional buying pressure may have stemmed from pro five Oakland Athletics’ decision to sell tickets for dogecoin. Within an official announcement on Monday, the renowned league basketball team added that it will be selling two-seat pods for 100 DOGE [$48.80 USD at the time of reporting] for its three-match series against the Toronto Blue Jays.
The quick recovery from a 40% 23rd April flash crash shows a robust “buy the dip” mentality within the market. The cryptocurrency has rallied over 9,000% this year, outperforming the likes of Bitcoin [BTC] and Ethereum [ETH] by an outsized margin.
With the staggering rally, DOGE’s market capitalization has surged to over $59 Bln, consistent with Messari, making it the 4th-largest cryptocurrency within the world. Daily miner revenues recently rose to new record highs over $3 Mln.
The project, that started as a joke earlier in 2013, has gained mainstream acceptance this year with the likes of NBA team Dallas Mavericks, medical supplier CovCare and a number of others adding support for dogecoin as a payments alternative. Tesla CEO Elon Musk has also been susceptible to tweeting about the coin, often prompting price rises as a result.