The price of DOGE has been on an absolute tear since the project that backs the cryptocurrency announced that it would be conducting a demo of Dogethereum, an experimental effort to bring dogecoin to the Ethereum blockchain, enabling the use of Dogecoin with Ethereum smart contracts through a new DOGE-backed Ethereum token.
Now, following the successful completion of the demo, DOGE continues to surge and is up nearly 15% in the last 24 hours. Given that the rest of the market is currently retracting, DOGE has propelled to be ranked 19th in the AltDex 100 Index ( ALT100 ), a benchmark index for large-cap cryptocurrencies and tokens.
Passing top cryptocurrencies like XTZ and VET is no small feat, as these represent the forefront of the entire industry. For instance, Tezos is largely considered an “Ethereum-killer” that differentiates itself from many other blockchain platforms as it has the ability to essentially self-evolve by upgrading itself over time without having to hardfork and cause a divide in the community. The project is well-capitalized as it just closed a $232 million ICO.
DOGE now has a market cap of $765 million with an all-time high of over $2 billion.