Dogecoin Crosses 10 Cents Mark, Hits New All-Time High

In addition to Bitcoin and Ethereum, which reached record highs this week, with bitcoin topping $63,000 for the first time ever on Tuesday morning, Dogecoin, the joke cryptocurrency​, also soared nearly 60% in the past 24 hours and crossed the 10 cents mark to hit its new all-time high of $0.13. Its market cap has now surpassed $17 billion.

The virtual currency, which has won a lot of focus from Elon Musk, the CEO of Tesla Inc (NASDAQ:TSLA), has jumped nearly 3,000% on a year-to-date basis from a price level of just $0.004 at the beginning of the year.

Over the first four months of 2021, Musk tweeted about Dogecoin on occasion; Reddit saw a cult status for the currency; NBA team Dallas Mavericks started accepting the coin as a payment method for tickets and merchandise; Leading crypto ATM provider CoinFlip listed Dogecoin on its 1,800 ATMs across the US; Latvian airline airBaltic announced the acceptance of Dogecoin as a payment method. These facts which signal that Dogecoin adoption is surging could possibly drive the soar of the Shiba Inu-themed cryptocurrency in the period.   

The latest volatility has a huge significance to ardent Dogecoin supporters as they have been keenly waiting for the coin to hit the $0.10 mark, which has been seen as a stepping stone to Dogecoin ultimately hitting $1.