Dogecoin (DOGE), the popular cryptocurrency created as a joke in 2013, now has a market cap of $52 billion after tripling in the past 24 hours.
That’s bigger than several major banks such as Barclays, which has a market cap of $44 billion.
- For comparison, Lloyds Banking Group has a market cap of $42 billion, Bank of New York is at $42 billion and Credit Agricole is at $43 billion.
- DOGE has rallied nearly 160% in the past 24 hours and is trading around $0.37 at press time. It's climbed sixfold over the past week.
- DOGE’s market cap has also surpassed bitcoin cash (BCH) and chainlink (LINK) and is now ranked as the fifth-most valuable cryptocurrency, according to Messari.
- On Thursday, the smoked meat stick vendor Slim Jim gave Dogecoin a shout-out on its earnings call after several DOGE snack memes populated social media.
- DOGE trading volume is now higher than ETH at roughly $60 billion in past 24 hours versus $43 billion, respectively.
It’s important to note the market capitalization of DOGE is based on an assumed number of outstanding tokens, but many of them are presumed to be no longer in circulation.
Read More: Why We Should Take Dogecoin Seriously
Back in 2013, $16,000 worth of dogecoins vanished when a storage service wallet was hacked. The incident resulted in over 30 million missing coins, according to CNET.