Cryptocurrencies soared after Coinbase Global debuted in the stock markets. And, backed by the likes of Elon Musk and Mark Cuban, Dogecoin rose roughly 180% last Friday, reaching a market value of over $ 42 billion. Now, it is 18,000% higher than its value last year, when it traded at $ 0.002 and was worth about $ 250 million.
Demand for cryptocurrencies also grew after companies, such as PayPal and Square, began to allow Bitcoin transactions on their systems. Wall Street firms also started to provide access to tokens to some of the wealthiest clients.
As a result, adherents of cryptocurrencies found themselves enriched, benefiting very much from this unprecedented increase in digital assets.
In fact, Dogecoin has already gained over 400% this week, making it a leader among other cryptocurrencies.