Dogecoin Blasts Into Top 10, And Leaves 101Source: Adobe/epic_images

Yesterday, it was the 33rd largest cryptoassets by market capitalization, today it was 7th, before dropping to the 12th position. Created as a joke in 2013, dogecoin (DOGE), is experiencing a wild ride for the second day now. (Updated at 11:41 UTC: updates throughout the entire text).

At the time of writing (11:33 UTC), DOGE trades at USD 0.04722, crashing from USD 0.782 reached earlier today. The price is still up by 270% in a day and 479% in a week. It rallied by 951% in a month and 1,832% in a year.

DOGE price chart:

Dogecoin Blasts Into Top 10, And Leaves 102Source: coingecko.com

As reported, yesterday, the rally started after "WSB Chairman", who claims to be the "Chairman of WallStreetBets," the r/wallstreetbets subreddit, with 5.6m (was 4.6m yesterday) users, responsible for the GameStop pump this month, asked about Dogecoin. And it was enough to send DOGE to the top 10 Club in one day.

The Chairman has a question today too:

@WSBChairman Because its a meme coin... based off a meme picture of a shiba inu... its infinitely mineable and has… https://t.co/dy4OJzS1bl

— Bullish777🐕🚀🌕OK;LG (@Bullishdotio)

This is the second coordinated DOGE pump in less than a year. Last summer, the TikTok community unsuccessfully tried to lift the price of the coin to USD 1.

DOGE market capitalization (USD 9.3bn) is now bigger than chainlink (LINK)'s (USD 9bn), litecoin (LTC)'s, stellar (XLM)'s. Bitcoin cash (BCH) and binance coin (BNB) have also been left behind.

The 24-hour DOGE trading volume now stands at USD 27.6bn. Earlier today, it was even higher than ethereum (ETH)'s trading volume, which is now above USD 45.5b.

Meanwhile, Google searches for "dogecoin" surpassed "bitcoin" this week.

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Reactions:

Okay I caved and bought the dog stocks lmaoooooo

— Mia K. (@miakhalifa)

Must be really disruptive for ordinary people trying to use Dogecoin for commerce https://t.co/FPszH6PI3J

— Dan Robinson (@danrobinson)

Only $79,330 per hour to 51% Attack $DOGE

— Will Foxley (@wsfoxley)

The funniest part of this $DOGE pump is that the creator, Jackson Palmer, absolutely hates capitalism and the free… https://t.co/5a8Zuc1Dvw

— WhalePanda (@WhalePanda)

If your mooning DOGE in Robinhood, the cash bag might not be there when you land. https://t.co/5RHbq2W4MC

— Dillon Andrew (@anotherexpert)

For traders: playing the musical chair altcoin rotation *can* make money when the conditions are right.

— Luke Martin (@VentureCoinist)

WallStreetBets is pushing altseason. Be wary folks. This can end badly for greenhorn retail. You are coming into th… https://t.co/FMncJ7N2cH

— Ray Youssef (@raypaxful)

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Learn more:
Cubans Turn to Bitcoin, Ethereum and Dogecoin as US Sanctions Bite
Penny Altcoins Rally While TikTokers & Co Go on a Pumping Spree
Dogecoin Pump Ends as Price Dumps 40% From Top
This is Why Dogecoin is Better than 'Altcoins-Degenerators'