Dogecoin, the famous meme cryptocurrency, is in news and this time again it has got Space X CEO Elon Musk connection. Dogecoin soared over 30 per cent on Wednesday and was up over 14 per cent on Thursday, June 3, at 11.25 am. The spike in price of Doge comes after after the US billionaire tweeted about the coin on Tuesday.
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The meme coin also broke into top 5 global rankings after yesterday’s (June 2) rally, as per CoinSwitch Kuber data, the exchange that facilitates trading in cryptocurrency in INR.
Well, Dogecoin price shot up after Space X CEO tweeted a picture apparently clicked in 1980. It showed Musk’s workstation along with the trademark Shiba Inu dog. He tweeted, ” Found this pic of me as a child,” further captioning the picture in the tweet, “I have to keep the passion hidden from the public or i’ll be socially ostracized.” It appears this Elon Musk tweet acted as shot in the arm for Dogecoin and it regained first rank 6 and later went on to capture the 5th position globally.
Found this pic of me as a child pic.twitter.com/hUEKluRAdP
— Elon Musk (@elonmusk) June 2, 2021
With the market cap of Rs 4,19,198 crore this P2P open-source cryptocurrency was trading at Rs 33.297015 after hitting 24-hours high of Rs34.889595 and surging from day’s low of 28.582358.
Meanwhile, led by Dogecoin, other top-ranked and popular coins were also mostly trading at upper levels.
Let’s look at how other coins performed today, June 3, at 12.15 pm
1. Bitcoin: Rs 29, 88,287, up 5.76 %
1-day highest: Rs 29,91,807
1-Day lowest: Rs 28,19, 231
2. Ethereum: Rs 2,18,997, up Rs 9.98 per cent
1-day highest: 2,18,997
1-day lowest: Rs 2,02,99
3. Polka Dot: Rs 2,139, up 16.65 per cent
1-day highest: Rs 2161
1-day lowest: Rs 1832
4. Cardano: Rs 138, up 2 per cent
1-day highest: Rs 138.98
1-day lowest: Rs 133.95
5. Binance Coin: Rs 32216, up 15 per cent
1-day highest: Rs 32,569.31
1-day lowest: Rs 28,018.27
Popular Shiba Inu was up 12.79% and was trading at Rs 0.000758. It made its one-day high of Rs 0.000795 after pulling up from day’s low of Rs 0.000664
The cryptocurrencies have been identified either on their global rankings and market capital or over their popularity among crypto traders. Readers should know that cryptocurrency trading is not banned in India but there is apprehension among traders due to lack of regulations. Recently, RBI has also asked banks and other financial institutions not to quote its old circular that barred these institutions from doing business with cryptocurrency exchanges in India.