{"id":123814,"date":"2021-05-05T11:24:00","date_gmt":"2021-05-05T11:24:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123814"},"modified":"2021-05-05T11:24:00","modified_gmt":"2021-05-05T11:24:00","slug":"dogecoin-is-surging-another-20-and-is-now-approaching-70-cents-per-coin","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/dogecoin-is-surging-another-20-and-is-now-approaching-70-cents-per-coin\/","title":{"rendered":"Dogecoin is surging another 20% and is now approaching 70 cents per coin"},"content":{"rendered":"
Dogecoin was soaring again on Wednesday morning, surging 20% as the cryptocurrency continued to benefit from speculative trading.<\/p>\n
The digital coin based on a Shiba Inu meme last traded at just under 68 cents, up about 20% for the day. It broke above 50 cents per share for the first time on Tuesday. <\/p>\n
This week's surge comes ahead of Tesla CEO Elon Musk's planned appearance on NBC"s "Saturday Night Live." Musk is a fan of Dogecoin, and the potential for him to talk about the currency on national television could be driving more demand. <\/p>\n
Dogecoin was started as a joke in 2013, at a time when the cryptocurrency boom was in its infancy and there was a flood of small, primitive coins entering the market. Doge has regained popularity, apparently boosted by attention from billionaires like Musk and Mark Cuban and easy access through free-trading app Robinhood. <\/p>\n
Crytpo firm Coinbase lists Dogecoin with a market cap of $87 billion, based on a simple multiplication of price and created coins. That is higher, on paper, than the publicly traded Coinbase's market cap of about $56 billion. <\/p>\n
The surge in Coinbase did not appear to be spilling over into the larger cryptocurrencies. The price of bitcoin was up about 2% in morning trading, while ether fell slightly. <\/p>\n
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