by Rushali 
The Dogecoin has raised to a market value of about $7 billion after it surged more than 800% Thursday to about $0.082 per coin and apparently prompting a congratulatory tweet from DOGE lover Elon Musk.
DOGE is now the 10th largest cryptocurrency according to the market value, just behind Bitcoin Cash and ahead of BNB, DOGE which was first started as a meme-based cryptocurrency.
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The price of the meme-based cryptocurrency has risen to a new all-time high of $0.082 per Messari, and then settled to $0.073, it was up by 822% over the last 24 hours which brings the year-to-date gains to about the same amount. Over $12 million worth of DOGE traded in the past 24 hours.
The reason behind this bullish rally is not clear, but it is speculated that it happened after attention from public Reddit trading collective Wall Street Bets along with a TikTok post about the “dogecoin army” by niche celebrity Carole Baskin from Netflix’s “Tiger King.”
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According to the data by Tie, DOGE set a new record for the most tweets on a cryptocurrency over a 24-hour period, besting the previous marks set by leading cryptocurrency bitcoin on Jan. 2, 2021, and Dec. 22, 2017.
Last month, Elon Musk, CEO of Tesla has tweeted a few pictures of a dog posing on the cover of a magazine, that might have caused the bullish rally.
