Cryptocurrency altcoin Dogecoin has seen a meteoric rise in global markets after climbing 91 percent on Friday.
The Shibu Inu-inspired cryptocurrency skyrocketed 320 percent in the last month to 28c per coin on Friday, or 4,900 percent for 2021. Pricing for Dogecoin also has a market capitalisation of more than $30bn, according to media reports.
"We definitely broke the internet today," Apple chief executive Tim Cook tweeted on Friday. "I'm honestly lost for more words".
— Tim Cook (@DreamBigBeBig20) April 16, 2021
The news comes after Bitcoin reached record highs of nearly $65,000 USD in recent weeks and amid cryptocurrency exchange Coinbase's initial public offering on the Nasdaq on Thursday.
— Elon Musk (@elonmusk) April 15, 2021
Bitcoin currently remains at $60,884.40 USD. Ethereum, the second most valuable cryptocurrency after Bitcoin, surpassed $2,500 per token for the first time in history.
Dogecoin is a derivative of the Luckycoin blockchain algorithm and was built by Adobe data scientist Jackson Palmer and IBM developer Billy Markus in 2013 as a joke on the rising number of altcoins entering the cryptocurrency market.
The altcoin can be purchased via official blockchain wallets or cryptocurrency exchanges such as Binance and BitPanda.
