Photographer: Yuriko Nakao / Getty Images
Photographer: Yuriko Nakao / Getty Images
Dogecoin peaked on Sunday when Elon Musk tweeted “Who let the Doge out” in the middle of the rally.
The digital currency with the Shiba Inu theme surpassed 8 cents for the first time, just a week after it dropped to 2.5 cents and generated a protests on Reddit. It has risen 53% in the past 24 hours to 8.2 cents from 5:45 pm in New York on Sunday, according to CoinMarketCap data, quickly going through its recent record of 7.8 cents posted in late January.
It now has a market value of $ 10 billion, making it the eighth largest cryptocurrency.
The price rebounded last week after Tesla Inc. co-founder Elon Musk returned from his self-imposed Twitter break to send a series of tweets promoting Dogecoin.
Begun as a joke in 2013, Dogecoin has been enjoying a wave of newfound popularity on social media, driven by the speculative frenzy of retail investors.
Bitcoin also rebounded this week, breaking the record for $ 40,000, before reducing earnings.
(Updates with new record price.)