According to CoinMarketCap data, the price of Dogecoin — popular lighthearted alternative to Bitcoin, has surged over 13% in the last 24 hours.
In fact, in more detailed terms, the cryptocurrency is up 13.43% in the last 24 hours. Also, its current CoinMarketCap ranking is #12, with a live market cap of $18,400,767,207.
What Could Be Responsible For The Surge ?
The recent spike in the price of Dogecoin may be attributed to a number of things. Firstly, Dogecoin has recently become more accessible while also having a wider use case. And that is after the virtual currency exchange Bitcoin of America made Dogecoin available on all its crypto ATM machines across the U.S. So now, Dogecoin joins Ethereum and Litecoin as the cryptocurrencies being supported by the company.
Meanwhile, it might be important to note that Bitcoin of America boasts of at least 1800 cryptocurrency ATMs scattered across 312 states. So, the possibilities of mainstream adoption looks endless, especially with the addition of the largest meme coin by the company.
Furthermore, a commission-less crypto trading app Voyager just added support for the joke cryptocurrency on Wednesday. Invariably, Voyager users too may now send and receive Dogecoin.
Finally, Wednesday marks the National Puppy Day —a day set aside to bring more awareness to puppy mills. And with top exchanges like Binance and others teasing the communities behind Dogecoin, it was almost certain that the crypto would get some extra buzz and attention around it.
Dogecoin Doing The Numbers
Interestingly, the price increase has seen Dogecoin flip Binance UsD (BUSD) stablecoin, to climb to 12th place by market cap. The joke Bitcoin alternative is now valued at $18 billion. Although, that’s still far from its record valuation of over $90 billion that was recorded last May.