Can nothing stop the DOGECOIN?

Elon Musk’s favourite cryptocurrency has pumped again this morning, soaring from US14c to 28c in the eight hours to 12.30am AEDT. It was up 110 per cent in the past 24 hours, according to Coincap.io.

It’s up over 30-fold in less than three months and this morning was ranked as the No. 8 cryptocurrency, up from No. 26 at the start of the year, according to Coincap.io.

Its market capitalisation is listed at $US35 billion ($45 billion), making a currency started as a joke now more valuable than Australian companies like Telstra (ASX:TLS) and Afterpay (ASX:APT).

On Crypto Twitter, some were calling for a price target of US69c by April 20 – get it? – while others were hoping it would shoot right past that and hit $US1. Others were even more bullish.

Co-founded by an Australian, Jackson Palmer, Dogecoin began its meteoric rise in the wake of the Gamestop saga, in part due to tweets from Elon Musk.

Coin360

The rest of the cryptocurrency market was mostly in the green this morning, with 72 of the top 100 coins on Coingecko gaining ground.

Bitcoin was trading flat at just over $US63,000 ($82,000), while Ethereum had surged three per cent past the $US2,500 ($3,250) mark to a new all-time peak.

Decred, Horizon (ZEN), Decentraland (MANA) and cETHย were the other top 100 coins hitting all-time highs this morning – all around noon, according to Coingolive.

Join ourย Cryptohead Facebook groupย to discuss all things cryptocurrency.