Dogecoin Hits Highest Price Since 2022 Amid Bitcoin Bull Run

Liputan6.com, Jakarta – Bitcoin may be a hot topic of conversation ahead of the halving. However, among today's top cryptocurrencies and tokens, there is an even bigger winner, Dogecoin.

Dogecoin (DOGE) rose 29.35 percent in the last day until 17.40 WIB. It is now trading at USD 0.13, according to Coinmarketcap, leading gains among the top cryptocurrencies in the period.

DOGE is currently the 9th largest cryptocurrency according to Coinmarketcap, with a market capitalization of USD 18.35 billion.

Launch Decrypt, Thursday (29/2/2024), the price of Bitcoin (BTC) is surging, taking most of the market with it. DOGE is no exception, and as one of the largest and most well-known cryptocurrencies, DOGE has made impressive gains. In the past week, it was also one of the biggest gainers with a spike of 51.3 percent.

DOGE is a meme coin, a cryptocurrency based on Internet jokes or popular culture. This is the biggest and original meme coin, which was originally created as a joke to make fun of Bitcoin.

However, its popularity and price increased after Tesla CEO and richest person in the world, Elon Musk, uploaded the asset on Twitter (now known as X). At one point, during the 2021 bull run, the company had a larger market capitalization than many companies in the S&P 500.

Elon Musk has since hinted the meme coin might be used to make payments on Twitter. DOGE developers exclusively told Decrypt in 2021 that they were working with Musk to improve the cryptocurrency so it could be widely accepted for payments.

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