Dogecoin is worth $ 50.3 billion at the time of writing! This means that it is more valuable than the American multinational automaker Ford Automotive Company ($ 45.2 billion) and social media giant Twitter ($ 44.1 billion).
At the time of writing, Altcoin ranks 252nd in the AssetDash ranking and surpasses 254 Newmont Corporation and 256 ING Bank. Newmont is the world’s largest gold mining company and has a market value of just over $ 50 billion.
The current market value is a remarkable achievement considering that it was launched only seven years ago on December 6, 2013; While Twitter and Ford were established in 2006 and 1903 respectively, the growth of Dogecoin accelerated in 2021 after Elon Musk and famous businessman Mark Cuban stated that they support the coin on social media.
Dogecoin’s recent strength may be linked to Musk’s upcoming performance hosting Saturday Night Live this next weekend. Some traders believe the exposure could cause Dogecoin to gain even more momentum. Therefore, the Saturday Night Live program will provide a tremendous platform for Musk and viewers who expect a boom in the coin’s value if Dogecoin is mentioned by Musk in one of his performances on the show.
The Dogecoin cryptocurrency was created by Billy Markus and Jackson Palmer, both software engineers, who wanted to build a payment system without traditional banking fees. “Doge” was started as a joke, using its similarity to the internet meme.