Famous memecoin Dogecoin DOGE/USD nearly doubled its value over the last 24-hours as tech tycoon and Tesla Inc TSLA Elon Musk rejoiced, and the upcoming Coinbase Nasdaq direct listing spurred market enthusiasm to new heights.
What Happened: According to CoinMarketCap data, Dogecoin's price increased by over 86.5% from its 24-hours low of $0.00759 to $0.01416. The coin is also up 142.4% from its price of 0.00584 registered one week ago.
Musk — who is a great fan of the cryptocurrency and jokingly served as its CEO — celebrated by tweeting a dedicated meme.
The news follows Bitcoin breaking $64,000 for the first time after cryptocurrency exchanges registered high levels of outflow.
The cryptocurrency market overall is showing ever-increasing enthusiasm levels ahead of today's direct listing on Nasdaq of major United States crypto asset exchange Coinbase.
How to Buy Dogecoin (DOGE)
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