The crypto market is rebounding; social media efforts to push Dogecoin to 69c (or “moon landing”) on 4/20 have failed.
The meme coin was hitting a record high of US42c yesterday afternoon. However, by the end of the day, Dogecoin fell by 17% and closed at US31c at 11:47 am.
Almost all other cryptocurrencies were in the green state this morning. In the past 24 hours, 36 of the top 100 coins on Coingecko achieved double-digit growth. Only four of the top 100 coins have lost, and the decline is not significant.
April 20th is a day related to cannabis counter-cultural activities. Dogecoin fans had hoped that their tokens would rise on the day they called “DogeDay420.”
Despite the decline, Dogecoin has risen by 234% in the past seven days. It makes the coin one of the top 100 best performing tokens during the period.
Dogecoin has a market value of 51.8 billion U.S. dollars, ranking sixth after Tether and second only to other companies on ASX except for 11 companies.
Slim Jim launches DogeCoin NFT
The DogeCoin still has many fans all over the internet. American meat snacks Slim Jim is the latest food brand that entered the cryptocurrency field by promoting the meme-centric Dogecoin.
In a tweet yesterday, Slim Jim announced that it would launch its non-fungible token or NFT. The NFT Doge is a Shiba Inu faced moon with the rocket ship in front. The rocket ship has the body of the slender meat snack.
The highest bid for Slim Jim’s NFT available through the OpenSea online market is currently 0.06 Ether (ETH), approximately US$136. Four crypto users have already provided offers on the “Rocket Ship Special Edition,” and the auction ends on Saturday. Slim Jim said it would donate 100% of NFT net income and another $10,000 to a world-class non-profit kitchen.
Other coins on the stock market
Overall, market did pretty well yesterday. Ethereum rose 10.5% to $2,314 ($3,030), while Bitcoin only rose 2.2% to $55,952 ($73,200).
Apart from Dogecoin, PancakeSwap is the only coin that set an all-time high in the past 24 hours before lunchtime. The trading price of AEDT at 12:14 in the afternoon was US$28.06, an increase of 28.4% from yesterday.
PancakeSwap tokens are used to incentivize the liquidity of the PancakeSwap decentralized exchange. The exchange is a forum for exchanging BEP20 tokens on the Binance Smart Chain.
Horizen (ZEN) is the top 100 best performing tokens in the past 24 hours, an increase of 46.3% to US$126. Horizen, the 79th coin on Coinmarketcap, is an interoperable blockchain system, allowing businesses to build their public or private sidechains.
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