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Dogecoin soars from joke to $50 billion, fed by crypto craze

Dogecoin soars from joke to $50 billion, fed by crypto craze
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Dogecoin Frenzy Overloads Robinhood Crypto Order System

Dogecoin Frenzy Overloads Robinhood Crypto Order System
Bloomberg
2 hrs ago
Joanna Ossinger and Vildana Hajric
(Bloomberg) The frenzy around digital tokens is taking its zaniest turn yet in the price of a token created as a joke, buckling the crypto trading system at Robinhood Markets.
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Dogecoin, boosted by the likes of Elon Musk and Mark Cuban, rallied more than 110% Friday, according to CoinMarketCap.com, reaching a market value of more than $45 billion. It’s now up 18,000% from a year ago, when it traded for $0.002 and was worth about $250 million.
Demand was so brisk for the token that investors trying to trade it on Robinhood crashed the site, the online exchange said in a blog post Friday. Some $68 billion worth of Dogecoin changed hands in the prior 24 hours as of 4:45 p.m. in New York, the most since June, CoinMarketCap.com data showed. ....

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