Dogecoin’s $10 billion valuation now makes it bigger than these 11 well-known companies

GettyImages 1299388500
Dogecoin is a cryptocurrency based on the Doge meme, started seemingly as a joke

Dogecoin, a meme-inspired cryptocurrency that was started as a joke in 2013, is now worth more than $10 billion after a gravity-defying year-to-date rally of 1,500%.

The rally was sparked by a series of tweets from Elon Musk, as well as Snoop Dogg, and Gene Simmons. An overall increase in demand for crypto among investors following bitcoin’s surge to nearly $50,000 likely also helped support the recent rally in Dogecoin.

Dogecoin differs from bitcoin in that there is no hard limit on the total supply of coins. Bitcoin has a fixed supply of about 21 million coins, of which not all have been mined yet. Dogecoin on the other hand has more than 100 billion coins outstanding, with 5 billion in new coins hitting the supply every year.

Even the founder of dogecoin, Billy Markus, can’t make sense of the surge in the coin he started as a joke. Markus told The Wall Street Journal, “The idea of dogecoin being worth 8 cents is the same as GameStop being worth $325, it doesn’t make sense.”

Dogecoin’s unlimited supply cap and the bewilderment of its founder hasn’t stopped investors from piling into dogecoin, making it now more valuable than these 11 well-known companies.

Read more: GOLDMAN SACHS: Buy these 26 ‘best of both worlds’ stocks set to soar with economic recovery even if interest rates stay low

1. Wendy’s

Ticker: WEN
Market Cap: $4.6 billion

wendys drive thru
Wendy’s fast food restaurant drive-thru.

2. Shake Shack

Ticker: SHAK
Market Cap: $5.0 billion

shake shack
A view outside Shake Shack in Herald Square during the coronavirus pandemic on May 13, 2020 in New York City.

3. Harley Davidson

Ticker: HOG
Market Cap: $5.2 billion

Harley Davidson dealership

4. JetBlue

Ticker: JBLU
Market Cap: $5.2 billion

JetBlue Airways Airbus A220
JetBlue Airways’ first Airbus A220-300 aircraft.

5. Texas Roadhouse

Ticker: TXRH
Market Cap: $6.0 billion

Texas Roadhouse

6. Planet Fitness

Ticker: PLNT
Market Cap: $6.5 billion

Planet Fitness mask coronavirus pandemic

7. Grubhub

Ticker: GRUB
Market Cap: $6.6 billion

Grubhub CEO Matt Maloney (C) applauds after ringing the opening bell before the company's IPO on the floor of the New York Stock Exchange in New York April 4, 2014. Shares of GrubHub Inc, the biggest U.S. online food-delivery service, rose as much as 57 percent in its market debut as investors scrambled for a piece of the fast-growing consumer internet company. REUTERS/Lucas Jackson
Grubhub is suspending some fees for restaurants struggling due to the coronavirus – with some strings attached.

8. Blackberry

Ticker: BB
Market Cap: $7.1 billion

BlackBerry CEO NYSE
John Chen, CEO of BlackBerry, gives an interview following the opening of his company’s stock at the New York Stock Exchange (NYSE) in New York, U.S., October 16, 2017.

9. Norwegian Cruise Line Holdings

Ticker: NCLH
Market Cap: $7.8 billion

norwegian epic cruise ship

10. Under Armour

Ticker: UAA
Market Cap: $8.6 billion

under armour UA sportsmask

11. Dropbox

Ticker: DBX
Market Cap: $9.8 billion

Dropbox account deletion computer
You will need to log in to your Dropbox account from your computer in order to delete account.

*Data as of February 9, 2021. 

Read Full Article


Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here