Dogecoin (DOGE), which hit a full-time level close to the 45-cent level on Monday night, has now surpassed the carmaker Honda Motor Co. Ltd. (NYSE: HMC) in terms of market value.
What happened: Joke cryptocurrency has risen 10.8% in the last 24 hours to $ 0.4245 at press time, giving it a market value of $ 54.64 billion. In comparison, Honda has a market value of $ 54.52 billion per year. Monday’s closing.
The event is important when Dogecoin co-creator Billy Markus recently revealed that he sold his entire cryptocurrency portfolio in 2015 for an amount equal to what a used Honda Civic would cost at the time.
See also: How to buy Dogecoin (DOGE)
Markus clarified in an interview with Benzinga in March that he actually never bought a used car by selling his cryptocurrency holdings for almost $ 1
Dogecoin’s market value also puts joke cryptocurrency ahead of companies like Emerson Electric Co. (NYSE: EMR) and Vodafone Group Plc (NASDAQ: VOD).
Emerson has a market value of $ 54.56 billion, and Vodafone has a market value of $ 54.18 billion. Pr. Monday’s end.
Why it matters: Dogecoin hit a full-time high Monday just days before Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk’s scheduled appearance on “Saturday Night Live,” featuring joke cryptocurrency. Musk is a big supporter of Dogecoin.
Shiba Inu-themed cryptocurrency is now the fifth largest cryptocurrency by market value according to CoinMarketCap data.
Apex cryptocurrency Bitcoin (BTC), which peaked at $ 64,863.10 last month, has fallen 3.5% over the past 24 hours to $ 55,757.48.
In terms of year-to-date returns, the meme coin has far surpassed the largest cryptocurrency by market value. DOGE has returned year-to-date gains of 8,792.74%, while BTC’s return is relatively pale at 91.29%.
Read next: How Dogecoin can become a usable currency like any other, according to Mark Cuban
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