The market capitalization of Doge, a meme-based token that started as a joke seven years ago, briefly passed that of major Japanese video game company Nintendo following a price rally.
According to data from AssetDash, the market capitalization of Dogecoin (DOGE) surged to $77.7 billion earlier today following a rally which took the price of the token above $0.60 for the first time. This rally put the market cap of the token project ahead of both cryptocurrency exchange Coinbase at $73.8 billion and Nintendo at $76.3 billion. Though the price of DOGE has since fallen to $0.53, its market cap is still above XRP’s, making the token the fourth most valuable cryptocurrency according to CoinMarketCap.
The rally follows the token flippening Tether (USDT) yesterday when trading platform eToro announced it had integrated support for Dogecoin. Today, major crypto exchange Gemini followed suit, with co-founder Tyler Winklevoss calling DOGE “organic, irreverent, and fun.”
At the time of publication, Dogecoin’s market capitalization is $66.7 billion, with a wide gap between that of Binance Coin (BNB) at $96 billion and major U.S.-based companies including General Motors and FedEx. Should the token reach a price of $0.61, it would reach parity with the Bulgarian Lev.
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