The price of Dogecoin [DOGE] has surged seemingly with no push from prominent figures on social media or major developments within the project.
In line with CoinMarketCap, the worth of Dogecoin [DOGE] is around $0.2618 USD at the time of reporting, with a market capitalization of roughly $33.56 Bln. The token’s most up-to-date rally had its price surge over 108.9% over the past 24 hours, passing both Uniswap [UNI] and Litecoin [LTC] to become the 8th largest cryptocurrency by market cap.
More shops have adopted the currency as a sort of payment in recent days. Earlier on Tuesday, a renowned Miami nightclub revealed that it would be accepting DOGE upon reopening as payment for tables, drinks, and merchandise.
Dallas Mavericks owner and DOGE proponent Mark Cuban also reported the basketball team’s store had sold more than 122,000 DOGE worth of merchandise – priced around $16k at the time of reporting – since first accepting the token earlier in March. Cuban revealed that the team “will never sell 1 single Doge ever.”
Though Tesla CEO and DOGE enthusiast Elon Musk has tweeted one among his memes amid the token’s price surge, the recent rally may simply reflect the climate around the cryptocurrency market. Mainstream media attention was largely focused on Coinbase’s COIN stock being listed on the Nasdaq in the week as both the worth of Bitcoin [BTC] as well as Ethereum [ETH] reached new all-time highs.