On December 19, Dogecoin jumped more than 300 percent in value in 24 hours, rising from $0.00026 to $0.00095, with a volume of hundreds of Bitcoins per day[21] during a time when Bitcoin and many other cryptocurrencies were reeling from China’s decision to forbid Chinese banks from investing Chinese Yuan into the Bitcoin economy.
Dogecoin saw a momentary boost of around 360 percent before settling down a bit to just 315 percent. The current total market value of all Dogecoins in circulation is $8,776,590. The value increase has also boosted Dogecoin into the top 10 digital currencies on the market, launching it above Primecoin and Nxt, two popular Bitcoin alternatives.
