Dogecoin is now bigger than Ferrari and Adidas in market value
This Tuesday (4), Dogecoin reached a new historic milestone: it surpassed the market value of Adidas and Ferrari.
The Bitcoin Archive profile posted on Twitter that the apparel company is valued at $60 billion, while the luxury car maker is priced at $54 billion. DOGE, on the other hand, has a market value of more than US $67 billion at the time of writing.
Doge coin has a $62 BILLION market cap! 🤦♂️ 😂
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) May 4, 2021
This comes after the cryptocurrency reached its historical maximum (ATH) of $0.6099. Dogecoin’s listing on eToro is cited as one of the reasons for the soaring price.
After market movements, exchange Gemini announced that it will also trade the cryptocurrency soon.
Although Bitcoin has experienced a further downturn, Dogecoin’s market remains bullish.
With this, the market value of the cryptocurrency surpassed Ferrari by more than 37%, as well as passed 23% of Adidas market value.
In this scenario, it is possible that Gemini’s negotiations will continue the momentum of the rise caused by the listing on eToro.
Although some traders have opposing views about the alt season, there are indications that the appreciation season may be near.
Bitcoin’s loss of dominance is one of the factors. Now, the market value of cryptocurrency represents 49% of the market.