Dogecoin (DOGE) has once again blessed the list of top ten crypto assets by market cap for the first time since 2015.
DOGE has soared 900% from $0.0078 in less than two days to post a new all-time high of $0.078, smashing its previous high of $0.0185 by more than four times.
As a result, with a market cap of more than 9 billion, sitting above Chainlink and below Cardano, the veteran meme-coin currently ranks as the seventh-largest crypto asset. At the time of publication, DOGE last traded for $0.054.
The unexpected DOGE parabola was due to a structured pump carried out by members of the r/WallStreetBets Reddit community who were discovered to have engineered the latest short-squeeze that induced international lockdowns on the shares of video game retailer Gamestop.
According to cointelegraph.com, crypto data aggregator TheTIE announced in the middle of the frenzied rally that Dogecoin had been the subject of approximately 90,000 tweets, being the first altcoin to deliver a greater Twitter volume than Bitcoin.
A tweet from Dogecoin’s self-described former CEO, Tesla chief executive Elon Musk, also bolstered the rise in DOGE’s social signals. In 2019, four years after Dogecoin creator Jackson Palmer left the project, Musk was voted Dogecoin’s most-desired hypothetical CEO.
