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Dogecoin has the internet howling yet again.
The cult coin nearly doubled its value in less than a day amid a new wave of investor enthusiasm for cryptocurrencies.
Dogecoin exploded to a new all-time high of about 14.5 cents early Wednesday morning, hours after roaring above the 10-cent mark for the first time, according to CoinDesk.
The digital currency — which started as a joke inspired by an internet meme featuring a shiba inu dog — was recently trading at about 13.6 cents as of 7:22 a.m. after dipping as low as roughly 7.5 cents on Tuesday, CoinDesk data show.
Dogecoin’s latest surge came ahead of Wednesday’s stock market debut for the major cryptocurrency exchange Coinbase, which is considered a milestone for crypto’s mainstream acceptance on Wall Street.
Anticipation for the tech giant’s direct listing has lifted the prices of larger crypto coins bitcoin and Ether, which also hit fresh all-time highs overnight, CoinDesk says.
But Dogecoin’s celebrity boosters appeared to add fuel to its Wednesday rally.
Billionaire Dallas Mavericks owner Mark Cuban said late Tuesday that the NBA team had sold more than 122,000 Dogecoin worth of merchandise since it started accepting the coin as payment last month.
That came after celebrity chef Guy Fieri tweeted an image of himself as an astronaut holding a helmet with the doge pup’s face peering through its visor. “Rollin’ out to the MOON,” Fieri wrote, adding a rocket emoji.
Tesla chief Elon Musk — who has singlehandedly driven up Dogecoin’s price in recent months — celebrated the coin’s rise on Twitter early Wednesday by tweeting a gif of a grinning shiba inu captioned, “TEHEEHEE.”
Dogecoin’s embrace by Musk, Cuban and other big names have helped its value rocket up by 2,700 percent since the start of this year, when it was worth a fraction of a penny, according to CoinDesk.
The digital asset also has devoted fans on Reddit, where an army of retail investors helped upend the stock market in late January.
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