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Dogecoin's $50 billion valuation now makes it bigger than these 10 well-known companies

Dogecoin's $50 billion valuation now makes it bigger than these 10 well-known companies


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Dogecoin's 7,199% rally in 2021 had made the meme-based cryptocurrency worth $50 billion.



These 10 well-known companies are now worth less than a shiba inu-inspired cryptocurrency.



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Dogecoin, a meme-inspired cryptocurrency that was started as a joke in 2013, is now worth $50 billion after a gravity-defying year-to-date rally of 7,199%.The rally was sparked by a series of tweets from Elon Musk earlier this year, as well as from Snoop Dogg, Gene Simmons, and Guy Fieri. An overall increase in demand for crypto among investors following bitcoin's surge to more than $60,000 and the direct listing of crypto-exchange platform Coinbase likely also helped support the continued rally in dogecoin.Even some congressman are getting in on the dogecoin craze, with house member Mark Green disclosing that he purchased the cryptocurrency earlier this month.Dogecoin differs from bitcoin in that there is no hard limit on the total supply of coins. Bitcoin has a fixed supply of about 21 million coins, of which not all have been mined yet. Dogecoin on the other hand has more than 129 billion coins outstanding, with 5 billion in new coins hitting the supply every year.
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