Dogecoin is symbolized by the Shiba Inu breed. Sometimes that DOGE just won't behave.
Dogecoin (DOGE) tapped fresh lifetime highs on Tuesday in the wake of a new exchange listing.
The Shiba Inu dog-branded cryptocurrency rose to $0.4876 during the European trading hours, topping the previous record price of $0.47 registered on April 16, according to CoinDesk data.
The latest leg higher comes a day after multi-asset brokerage platform eToro announced support for the cryptocurrency, citing strong client demand. The new listing opens dogecoin to some 20 million users spread across the globe.
Dogecoin daily chartSource: Tradingview
The quick recovery from a 40% April 23 flash crash shows a strong buy the dip mentality in the market. The cryptocurrency has rallied more than 9,000% this year, outperforming the likes of bitcoin and ethereum by a large margin.
With the staggering rally, DOGEs market capitalization has surged to over $59 billion, according to Messari, making it the fourth-largest cryptocurrency in the world. Daily miner revenues recently rose to new record highs above $3 million.
The project, which started as a joke in 2013, has gained mainstream acceptance this year with the likes of NBA team Dallas Mavericks, medical supplier CovCare and several others adding support for dogecoin as a payments alternative. Tesla CEO Elon Musk has also been prone to tweeting about the coin, often prompting price rises as a result.
Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.