Dogecoin surges to new all-time high following Gemini listing

Time Stamp: May 4, 2021 1:00 PM
Source Node: 837669
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“Meme” cryptocurrency Dogecoin (DOGE) is on the rise again today as its price has reached a new all-time high of $0.59 on the heels of its listing on crypto exchange Gemini.

According to CryptoSlate data, DOGE is currently trading at around $0.53, up 30% on the day and roughly 100% over the past seven days. Additionally, the sudden bull run has pushed Dogecoin to 4th place among the largest digital assets by market capitalization, right behind Bitcoin, Ethereum, and Binance Coin.

The top five cryptocurrencies by their market capitalization
The top five cryptocurrencies by their market capitalization. Source: CoinGecko

“Seriously $DOGE, what are you doing? #Dogecoin price jumps by 30% in 24 hours, breaking the $50 cents barrier, and is now the 4th crypto-asset by market cap,” tweeted data science company IntoTheBlock today, adding, “Investing 1000$ in DOGE on January 1 of 2021 would be worth $115,576 today. How’s that for a measure of speculation?”

Although this is just one-third of DOGE’s weekly gains, the latest push somewhat coincided with crypto exchange Gemini announcing that it now supports trading and custody of the coin.

“Deposits are now open for $DOGE. Keep an eye on our feed for trading updates!” Gemini, led by famous billionaire twins Winklevoss, tweeted today.

Meanwhile, crypto-friendly trading platform Robinhood reported that it was experiencing “issues with crypto trading” roughly an hour after Gemini’s announcement and DOGE’s surge that followed.

Everyone joins the fun

Several major companies also decided to jump on the DOGE hype train today, posting numerous tweets about the canine cryptocurrency.

“Maybe we should just #DogecoinToTheMoon,” tweeted Snickers. “PUPWEISER TO THE MOON,” proclaimed Budweiser, adding, “Wag your tail for this doggone DOGE cryptocan.”

Surprisingly, Tesla and SpaceX CEO Elon Musk, who is perhaps the most well-known proponent of Dogecoin, stayed silent amid the market craze today (although, to be fair, he hasn’t tweeted anything since May 2).

However, it looks like other major companies have already picked up the DOGE banner as well.

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Source: https://cryptoslate.com/dogecoin-surges-to-new-all-time-high-following-gemini-listing/

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