Dogecoin Markets Soar as Token Nears a Half Dollar, DOGE Price Climbs 18,299% in 12 Months

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The popular meme-based crypto-asset dogecoin has seen phenomenal gains during the last few days. On August 16, 2021, the digital currency featuring the likeness of the Shiba Inu dog tapped an all-time high at $0.44 per token. However, the cost to send a transaction in dogecoin has jumped to that price as well on Friday.

Who Let the DOGE Out?

• Dogecoin (DOGE) has spiked massively this week in value shocking everyone watching digital currency markets in action. DOGE jumped to a high of $0.44 per unit on Friday morning at 9:45 a.m. (EST).
• At 11:16 a.m. (EST), DOGE 24-hour gains have jumped to 187.22% and seven-day gains have spiked over 497.11% against the U.S. dollar. Against bitcoin (BTC), dogecoin has gained 465.06% this week.
• Meanwhile, at the same time frame, stats also show that dogecoin has gained 3,872.55% in a mere three months. 509.30% during the course of the last month, and a whopping 18,299.46% against the U.S. dollar during the last 12 months.

• DOGE transaction fees have jumped as well and the average transaction now costs 1.25 DOGE or $0.465 USD according to bitinfocharts.com. The statistics show in recent weeks as dogecoin (DOGE) values rise, DOGE network fees follow suit.
• Dogecoin has also been getting a lot of attention from celebrities and businesses like Slim Jim, the famous beef jerky maker.
• “To kinda quote a movie ‘Doge keeps going up, but our pricing at [the] Dallas Mavs Shop stays the same,’” Mark Cuban tweeted on Friday. “We just set a 24-hour record for merch sales in Doge,” the investor added.

• At 11:00 a.m. (EST), dogecoin (DOGE) markets captured the 5th market position in terms of market valuation. At that time frame, DOGE’s overall market valuation was worth $50.35 billion. Some crypto advocates have been ecstatic and have been rooting DOGE on while others have called it “dumb money.”
• At 12:33 a.m. on April 15, 2021, Tesla’s Elon Musk tweeted about DOGE once again. The Tesla CEO shared a meme and said: “Doge Barking at the Moon.” Subsequently, dogecoin prices started to climb relentlessly after that tweet.
• On April 20, 2021, otherwise known as “4:20 Day” for many cannabis proponents, will also be “Doge Day,” according to a number of fans. “This day might push it to $1,” tweeted Christopher Muñoz on Thursday.
• Galaxy Digital’s Mike Novogratz took a jab at dogecoin (DOGE) and XRP during his latest interview with Marketwatch when he called them “weird coins.” Because tokens like these have been spiking, Novogratz has warned of a crypto market “washout.”

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What do you think about dogecoin soaring to new heights on Friday? Let us know what you think about this subject in the comments section below.