DOGE rises 80% on the day, became 10th largest crypto by market cap

The notorious meme-like cryptocurrency continues to invite both affectionate hype and thinly-concealed derision with reaching highs.

DOGE rises 80% on the day, became 10th largest crypto by market cap

According to CoinMarketCap data, DOGE has reached its all-time-high of $1,425 on Wednesday rising 80% in 24 hour. Along with that, the currency made its place to the top 10 cryptocurrencies by market cap putting itself on 10th position. As of the time of writing, DOGE is trading at around $0.135.

Dogecoin's marvellous rise mirrors the extremely bullish environment of the cryptocurrency markets at present due to today's Nasdaq listing of major American cryptocurrency exchange Coinbase.

Yet the "meme" coin's parabolic rise also potentially reflects the consistent endorsement of the coin by high-profile celebrities including Elon Musk, Snoop Dogg, and Gene Simmons. Musk's role in raising the popularity of the DOGE was so conspicuous that it even sparked rumors in February this year of a possible investigation by U.S. securities regulators into his possible influence on Dogecoin's price.

DOGE has gained attention so far in all sorts of corners and the media, sports and entertainment spheres. In a tweet posted today on April 14, Mark Cuban noted that The Dallas Mavericks' merchandise store has seen a 550% increase in transactions in DOGE over the past month.