Dogecoin gained around 10% in value on Thursday, April 22, after traders rushed to the popular meme-inspired cryptocurrency to commemorate its 10th anniversary.
Dogecoin prices shot up as much as 13.7% to $0.4054, taking the crypto asset’s gains to more than 9.4% over the past 24 hours.
The video-sharing site TikTok has sparked a surge in popularity over the past few months, sparking a fandom for the Shiba Inu–inspired meme-coin.
Dogecoin has grown exponentially in 2021, defying skeptics who’ve pointed to the coin’s dubious origin story and the lack of a real-world application for the asset as negatives.
In March, cryptocurrency exchanges reported a surge in trading volume for Dogecoin.
Dogecoin is now trading close to 400% up year-to-date, trading at its highest level since January 2019.
Dogecoin’s 10th anniversary celebrates the April 6, 2011 launch of the coin, when engineer Billy Markus and Adobe product manager Jackson Palmer put the project into motion.
Dogecoin is now positioned as the sixth-largest cryptocurrency in the world by market capitalization, behind Bitcoin (BTC) and Ethereum (ETH).
