- Dogecoin surged 14% on Thursday, hitting its highest level since November 2021.
- The meme-token has surged in a broader cryptocurrency rally.
- Dogecoin now has a market valuation of $31 billion, which makes it bigger than Deutsche bank.
The ongoing revival in cryptocurrencies has led to a surge in the price of $4, the meme-token that $4
Dogecoin surged 18% on Thursday to $0.22, hitting its highest level since November 2021. The crypto token is up 40% over the past week, is up 145% so far this year, and is up 191% over the past year.
Aside from $4 there has been no material news related to dogecoin recently.
Dogecoin's rally coincides with a broader surge in cryptocurrencies amid strong demand for the $4
The surge in the meme coin has catapulted its market value to just over $31 billion as of Thursday afternoon, which makes it slightly bigger than $4 the eighth-largest bank in the world that manages more than $1.3 trillion in assets.
For $4 it's an impressive valuation.
But it pales in comparison to what traders were valuing dogecoin at the height of the crypto boom in 2021, when it hit a peak valuation of $75.2 billion.
Since then, the price of dogecoin has declined by 62%.
Despite that sharp decline, dogecoin remains the eighth-largest cryptocurrency as measured by market value, and its ongoing rise is $4 among traders.