Dogecoin may have started as (and may still be) a joke. But serious cryptocurrency investors who’ve bet on ethereum are laughing all the way to the bank.
Ether is the world’s second most valuable cryptocurrency, trailing only bitcoin (XBT).
Ether is quickly catching up to bitcoin in market value too.
All of the ethereum currently in circulation are worth about $480 billion, while bitcoin’s market cap is just over $1 trillion.
Bitcoin and ether make up about 63% of the total market value for all cryptocurrencies.
But dogecoin, the Shiba Inu-themed cryptocurrency that Tesla (TSLA) and SpaceX CEO Elon Musk has repeatedly touted (although he quipped on the most recent “Saturday Night Live” that it’s simply a “hustle”) is now the world’s fourth largest crypto.
Still, even after a 10,000% surge this year to a combined value of about $66 billion, dogecoin still makes up less than 3% of the total crypto market.
