Dogecoin was last trading at about 22 US cents (30 cents) per coin, giving it a US $28.8 billion ($39 billion) market cap. As of Tuesday morning, both bitcoin and dogecoin had soared more than 14 per cent over the past 24 hours, according to Coinbase.
Ethereum went up nearly 12 per cent over that period.
Typically, when Amazon is rumoured to enter a new market, stocks of soon-to-be rivals tumble.
But Amazon’s job listing had the opposite effect Monday, generating buzz about the tech company’s future involvement with cryptocurrencies and its potential to further legitimise the nascent digital currency sector.
In Amazon’s listing, which was posted on Friday, the company says it is looking for someone with a “deep understanding” of the “cryptocurrency ecosystem and related technologies.”
“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon,” a spokesperson for the company told CNN Business. “We believe the future will be built on new technologies that enable modern, fast and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”
Although Tesla founder and CEO Elon Musk’s tweets have incited whiplash in the crypto space, the company’s initial $1.5 billion investment in bitcoin helped legitimise cryptocurrencies as an investment.
During earnings conference calls this year, Wall Street analysts have peppered executives at high-profile companies about possibly entering the bitcoin space.