Dogecoin has surpassed the market capitalization of Porsche, a memecoin trader turned a $160 investment into millions: Hodler’s Digest
Dogecoin has surpassed the market capitalization of luxury automaker Porsche, driven by endorsements from Elon Musk and the potential launch of an exchange-traded product for the memecoin.
Dogecoin has risen 175% during the past month to a $57.8 billion market capitalization, surpassing Porsches $56.1 billion market cap, as of 8:34 am UTC on Nov. 27, Cointelegraph data showed.
Dogecoin has had significant momentum in 2024, partly driven by continued social media endorsements from billionaire Elon Musk. Musks recent involvement in creating the nascent Department of Government Efficiency (DOGE), an agency aimed at cutting government spending and streamlining regulations, has further stoked interest.
