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.
See Also: Why Is Dogecoin Being Succhhhh A Good Boi Right Now?
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.
While some are suggesting that the company's valuation is "ridiculous," many others plan to take part in the offering, and ETF manages seem to plan to buy in en masse.
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