Following its dramatic surge to an all-time high, the world’s most famous Dogecoin, which originally started as a joke, is now valued at a whopping $49.8 billion, meaning that its valuation is much higher than one of America’s oldest Autocar makers and social media giant Twitter.
Per Asset Dash ranking, Elon Musk’s favorite coin now ranks 255 on its valuation list, just one rank lower than the world’s biggest gold mining company, Newmont Corporation, which has a market cap of whopping $50 million.
With Dogecoin crossing the commodity-based manufacturers like Ford or just behind the major gold miners, it adds more to the dilemma of skeptic investors facing the paradox that it holds no physical value.
Meanwhile, experts describe it as a major milestone for the meme coin since its launch in 2013. On the other hand, companies like Twitter and Ford were founded in 2006 and 1903, respectively.
Besides that, Tesla’s founder Elon Musk and American millionaire Mark Cuban are driving forces behind Doge’s dramatic rally. Only recently, Musk took Twitter and wrote: “The DogeFather” along with his SNL skit date. Just minutes down the lane, Dogecoin’s price saw a surge. Now, the supporters of the digital asset are hoping that Musk’s mention on one of his skits could boast the coin’s price even further.