Doge Days Return? Dogecoin Crosses 40-Cent Level Again

Meme-dedicated crypto asset Dogecoin DOGE/USD breached the 40-cent level once again Monday morning.

What Happened: Dogecoin rose by over 8% from a 24-hour low of $0.3754 to a high of $0.4064, according to CoinMarketCap data, before settling at $0.3998 as of press time.

Today's high is still over 3% lower than the coin's all-time high of $0.4191 reported on April 20, but at the same time, the coin is also over 58% higher than its seven-day low of $0.2562.

See Also: How To Buy Dogecoin

This growth closely follows Dogecoin sharply correcting by over 37% in under 24 hours after seeing two-digit gains multiple times, spanning from 20% to as much as 86% within a single day. The coin rallied so much that its market cap reached a high of nearly $54.45 billion, above Ford's market cap at $46.31 billion and Kraft Heinz's at $48.84 billion.

"No one thinks these blue-chip stocks are all that comparable to Dogecoin, a fringe asset with no real purpose beyond being a joke on social media," said one Bloomberg reporter.