Dogecoin Market Cap Surpasses Pinterest and DraftKings: Which Companies Is Dogecoin Bigger Than?

If you've been following cryptocurrencies during the last bull market in 2020 and 2021, you've almost certainly come across Dogecoin (DOGE). The token has gained a lot of attention on social media and has quickly become one of the most talked about cryptocurrencies. dogecoin has survived the bear market of the last few years and is poised to make a strong comeback in 2024.

DOGE was born more than a decade ago, but didn't start to gain momentum until 2020. It once soared to an all-time high of nearly $0.75 (ATH), when it had a market capitalization of about $100 billion. The price has fallen sharply since then, but has risen more than 100% so far this year.

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The price run in 2024 is the result of a combination of factors, most notably the whole lot of meme coin investment and attention, and Elon Musk's resonance remarks.

Meme currencies started to take off in 2024, with a slew of new projects entering the market and attracting investors. One example is dogwifhat (WIF), which recently surpassed $4 billion in market capitalization within four months of launch. The coin boom has also brought some investors back to the original coin, DOGE.

In addition, Elon Musk hinted at the possibility of allowing customers to buy Tesla cars with DOGE. While touring the Tesla Gigafactory in Berlin, Musk was asked when he would be able to buy Tesla cars with DOGE." At some point. I think we should make that happen. dogecoin to the moon," resonance said.

Later, resonance explained in detail why he's been a fan of DOGE for the past few years: "He said, "I ended up endorsing Dogecoin because some people asked me to support Doge when I was walking around the Tesla factory," and then at SpaceX, "some regular people said, 'Can you support Doge,' and I said, 'Doge is the people's cryptocurrency, so I'm going to support it. And then at SpaceX, some regular guy said, 'Can you back Doge,' and I was like, 'Doge is the people's cryptocurrency, so I'm going to back it.'"

Additionally, Mars Resonance's social media company, X, is in the process of obtaining money transfer licenses in a number of states, allowing users to pay each other in fiat currency and DOGE on the platform.

As a result, DOGE's market capitalization in 2024 is already as high as $32 billion. Here are some of the companies that DOGE is bigger than:

• Delta Air Lines (DAL)

• Hewlett-Packard (HPQ)

• Dollar Tree (DLTR)

• MicroStrategy Inc (MSTR)

• EBAY

• Fifth Quarter Bank (FITB)

• Pinterest (PINS)

• Roblox (RBLX)

• DraftKings (DKNG)

• Kellogg Company (K)

The list includes some of the world's largest companies, including banks. These companies have tens of thousands of employees dedicated to delivering value; DOGE, by contrast, has had only 40 contributors since its launch and has been largely written off as a memo.

The story of DOGE is a testament to the degradation of the cryptocurrency community, who can take a project that started as a joke and provided little value and turn it into something bigger than most companies in the world.

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This article, "Dogecoin Market Capitalization Overtakes Pinterest and DraftKings: Which Companies Does Dogecoin Still Have a Larger Market Capitalization Than? This article originally appeared on Benzinga.com.

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