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Here s a $80b joke too serious to laugh off now - The Economic Times

Here’s a $80b joke too serious to laugh off now SECTIONS Share Synopsis Unlike other cryptocurrencies that are either in limited circulation – making them a storehouse of value - or have use cases like smart contracts, Doge’s use cases have been limited to tipping on Twitter and Reddit for quality content. ETtech Named after a meme of the Japanese dog breed Shiba Inu and with supporters including Tesla s Elon Musk, the cryptocurrency has risen over 10X in the last three months, with its market cap standing at almost $80 billion on Thursday. Indian cryptocurrency exchanges are now witnessing record-breaking trading volumes of Dogecoin, causing massive surge in traffic on these platforms.

Dogecoin mania reaches Indian crypto exchanges

Dogecoin mania reaches Indian crypto exchanges SECTIONS Share ETtech Named after a meme of the Japanese dog breed Shiba Inu and with supporters including Tesla s Elon Musk, the cryptocurrency has risen over 10X in the last three months, with its market cap standing at almost $80 billion on Thursday. Liking this story? SUBSCRIBE We ll soon meet in your inbox. Please wait. Indian cryptocurrency exchanges are now witnessing record-breaking trading volumes of Dogecoin, causing massive surge in traffic on these platforms. On Wednesday, Binance-owned WazirX’s Doge/INR trading slowed its system as the platform saw record traffic that it did not have the capacity to support.

2800% returns YTD! What s happening with Dogecoin?

2800% returns YTD! What s happening with Dogecoin? Dogecoin is a community driven cryptocurrency at the moment and the value is being determined by power and influence on social media by influencers, says Monark Modi, Founder and CEO, Bitex Dogecoin breaches 10 cents for the first time ever For the second consecutive day, Bitcoin has breached its all-time high. On Wednesday, the world s largest crypto currency crossed US$ 64,000 level for the first time. Following suit, Dogecoin, which originally started as an internet parody over seven years ago surged 85 per cent in a day. The meme coin has breached 10 cents for the first time ever. It touched an all time high of US$ 0.145, according to CoinDesk. Its market cap is now close to $16.5 billion, ranking 10th across VCs. Why is the Dogecoin price rising? Like Bitcoin and Ethereum, is it another virtual currency which has the potential to capture great gains going ahead? Well, experts don t believe so.

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