$DOGE is now considered one of the top five cryptocurrencies as its value is now bullish above 40 cents! Dogecoin, the somewhat meme cryptocurrency that was originally created as some sort of spoof, is currently turning out to be rapidly increasing in value.

$DOGE bullish price

According to a CNBC article, the price of $DOGE just jumped above 30 cents past Friday, and in a Tweet by Binance, the cryptocurrency's value even hit 44 cents! The article by USAtoday based their numbers on Coinbase digital currency exchange. This is reportedly more than double its previous value on Wednesday when Dogecoin hit 13 cents.

Dogecoin was referred to as a memecoin that was originally created back in 2013 as a joke that was meant to poke fun at the massive surge in digital coins like the more popular Bitcoin. This was according to the report from a cryptocurrency news site known as Coindesk.

Dogecoin doge meme

Dogecoin was originally inspired by the widely popular Doge meme on the internet that stars the image of a certain Shiba Inu staring to its side while looking at the camera all while raising its eyebrows. This is according to the popular website that gives people information regarding memes called Know Your Meme.

The total interest in cryptocurrency, in general, has surged back in the past week as Coinbase recently started to trade publicly on the Nasdaq exchange as of Wednesday. The first day reportedly ended with a share price of $328.28 and an official market value of a whopping $85.78 billion. Meanwhile, a lot of people, especially those following Tesla CEO Elon Musk, are celebrating the massive success and ascension.

Elon Musk cryptocurrency

Elon Musk has been attributed to the rise of Bitcoin and Dogecoin due to his constant mentions of the cryptocurrency on Twitter. Tesla had also made a huge investment into Bitcoin, making it one of the recent owners of massive amounts of Bitcoin.

The cryptocurrency has also been beating its previous record highs as the bullish cryptocurrencies are getting even more attention as of late. Ever since Coinbase went public on Nasdaq, cryptocurrency investments have slowly been gaining a more reputable image instead of the previous shaky image it used to have.

Read Also: Why is Elon Musk Obsessed with Dogecoin? History About This Cryptocurrency

Ethereum cryptocurrency

With blockchain technology also becoming increasingly popular, cryptocurrency itself has also evolved, with newer coins or tokens popping up every once in a while. While $DOGE isn't just fairly new, other cryptocurrencies are also starting to get more attention. Another cryptocurrency that has recently been the topic of conversation is Ethereum.

Due to the more stable movement of Ethereum, the cryptocurrency is considered to be possibly the closest cryptocurrency to fiat currency. Although still volatile, Ethereum is now being eyed as a possible substitute digital currency to fiat money. 

Related article: Elon Musk's SpaceX to Make Dogecoin as Moon's Currency? Real or April Fool's Joke?

This article is owned by Tech Times

Written by Urian Buenconsejo