Elon Musk's favorite coin Dogecoin (DOGE) has achieved the best results in the ranking of the largest digital currencies. In the second quarter, it soared in price by 366%.
In early May, DOGE reached $ 0.74 on some trading floors. However, by the end of the quarter, the coin had lost about 77% in value, the researchers said.
On the night of Saturday, July 24, the Dogecoin price increased to $ 0.191. Cryptocurrency capitalization now exceeds $ 24.937 billion, it is in eighth place in the ranking.
DOGE was the most efficient of the largest digital currencies in the second quarter. For example, bitcoin fell by 40% in the reporting period. Ether (ETH), Binance Coin (BNB), and Cardano (ADA) finished the three months with much smaller gains compared to Dogecoin.
The trading volume of this cryptocurrency in the reporting period increased by more than 13 times.
In the second quarter, the average daily amount of transactions with digital currency DOGE was about $ 1 billion, while in the first quarter of 2021, this figure did not exceed $ 75 million.