Bitcoin has enjoyed a strong bull market in 2020 and 2021. Earlier this week, it traded as high as $64,780 per coin — an 825% increase from this time last year and an increase of more than 120% year to date.
But another cryptocurrency — and a relatively obscure one, at that — has far outpaced its growth.
Dogecoin traded as high as $0.487 on Friday morning — a 24,200% increase from this time last year and an increase of more than 840% year to date.
Dogecoin has a storied past…
During the 2017 crypto bull market, the coin rallied but faded like bitcoin and most other cryptocurrencies.
During the short squeeze of GameStop Corp. (NYSE: GME) in January, Dogecoin rallied 800% in less than 24 hours. That rally happened after Tesla, Inc. (NASDAQ: TSLA)’s CEO Elon Musk tweeted a cryptic message about the cryptocurrency.
At writing, the rally runs on.
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