Cryptocurrency value

Dogecoin Price Tracker, Updates As Cryptocurrency Value Remains Stable

The value of Dogecoin, the joke cryptocurrency that has seen a recent price spike, edged up again on Thursday after a small drop a day earlier. The price has stabilized this week, compared to the steeper increases seen last week, according to data compiled by CoinMarketCap, which examines cryptocurrency values.

On Thursday, the price of Dogecoin (listed as DOGE in the cryptocurrency market) was $ 0.073239, with a 24-hour trading volume of $ 5,951,963,617, at the time of publication, according to CoinMarketCap.

Its latest value marked an increase of 1.25% over the past 24 hours, while its market cap value (the “total value of a cryptocurrency’s circulating supply”) also increased by 1 , 26%, at time of publication.

The lowest reported price for Dogecoin in the past 24 hours ($ 0.06853) was still an increase of almost 60% from the lowest value reported last week when it hit around 0.0429. USD on February 4, at time of report, according to CoinMarketCap.

Dogecoin currently ranks 12th among the largest cryptocurrencies in the world based on the value of market cap, remaining in the same ranking as yesterday.

The cryptocurrency meme has seen a resurgence following the recent GameStop stock-buying frenzy, fueled by user investment on the r / WallStreetBets subreddit.

The rise of Dogecoin has sparked renewed interest in other cryptocurrencies, including Bitcoin, the world’s first and largest cryptocurrency based on the price of market cap.

Earlier this week, Tesla announced that it has invested around $ 1.5 billion in Bitcoin, the world’s leading cryptocurrency. Last Wednesday, the price of Ethereum, the second largest cryptocurrency by market cap, hit a record high of $ 1,576.7, Reuters reported at the time, surpassing $ 1,500 for the first time.

Tesla CEO Elon Musk on Thursday shared a post on Twitter referring to the character of Frodo from the the Lord of the Rings series of films. Sharing an image of a ring bearing the Bitcoin symbol, Musk tweeted: “Frodo was the underdog, everyone thought he would fail, especially himself.”

Musk also noted: “Bought Dogecoin for little X, so he could be a toddler,” in a tweet wednesday.

Dogecoin’s price has also risen following the nods of several celebrities in recent days on social media, including rapper Snoop Dogg and musicians Gene Simmons of Kiss and Kevin Jonas of Jonas Brothers.

On Wednesday, Mastercard announced that it will “begin supporting certain cryptocurrencies directly on our network” this year, as it “prepares for the future of crypto and payments.”

The card company already offers ‘crypto cards’, created last year in partnership with Wirex and BitPay, which allow customers to make transactions using cryptocurrencies, which would then be converted into fiat currency ( a government issued currency) before it reaches the seller. .

Mastercard’s latest move would allow customers to settle their payments using cryptocurrencies, according to a source familiar with the matter, Coindesk reported. This would mean that customers could pay vendors directly in cryptocurrency.

The company noted in a statement Wednesday: “Mastercard is not here to recommend that you start using cryptocurrencies. But we’re here to empower customers, traders, and businesses to move digital value – traditional or crypto – as they see fit. It should be your choice. , it’s your money.

“Doing this job will create a lot more opportunities for buyers and merchants, allowing them to transact in a whole new form of payment,” Mastercard said.

A photo illustration of Dogecoin and other cryptocurrencies, photographed on January 29 in the Netherlands.
Yuriko Nakao / Getty Images

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