Dogecoin is back on investors’ radar Wednesday, as prices rally following word that Coinbase Pro will start letting users trade the cryptocurrency beginning on Thursday.
Once considered a joke, the digital currency was up 33% in midday trading to nearly 42¢. But perhaps even more impressive was the latest update on its market cap. Dogecoin now has a market value of roughly $54 billion dollars, a phenomenal level that puts it alongside some of the biggest companies in the world. In fact, it puts the cryptocurrency well above many of them.
Ten thousand new Dogecoins are programmed to be issued every minute for the rest of eternity, meaning the market cap could conceivably continue to rise. It’s a cryptocurrency that’s meant to always get cheaper, but has been on a steady rise this year (up 8,600%), creating a bevy of new millionaires. Even the creator of the coin is flummoxed by its rise.
That’s not stopping it from dwarfing some very familiar names, though. Here are some of the blue-chip companies that have seen Dogecoin blow past their market caps so far.
All market cap data is as of 11:45 a.m. ET on June 2.
Keurig Dr Pepper (KDP) – Market cap: $52.24 billion
Philips (PHG) – Market cap: $50.74 billion
DoorDash (DASH) – Market cap: $48.53 billion
Dollar General (DG) – Market cap: $47.56 billion
Marriott International (MAR) – Market cap: $46.96 billion
American International Group (AIG) – Market cap: $45.82 billion
Walgreens Boots Alliance (WBA) – Market cap: $45.72 billion
Twitter (TWTR) – Market cap: $45.67 billion
Kimberly-Clark (KMB) – Market cap: $44.11 billion
T. Rowe Price (TROW) – Market cap: $43.52 billion
eBay (EBAY) – Market cap: $42.34 billion
Allstate (ALL) – Market cap: $41.25 billion
Ferrari (RACE) – Market cap: $40.02 billion
Aflac (AFL) – Market cap: $38.81 billion
General Mills (GIS) – Market cap: $38.45 billion
Corning (GLW) – Market cap: $36.68
Southwest Airlines (LUV) – Market cap: $36.26 billion
Hilton Worldwide (HLT) – Market cap: $35 billion
D.R. Horton (DHI) – Market cap: $33.86 billion
Deutsche Bank (DB) – Market cap: $31.55 billion
Delta Air Lines (DAL) – Market cap: $30.60 billion
Best Buy (BBY) – Market cap: $29.6 billion
Kroger (KR) – Market cap: $28.22 billion
ViacomCBS (VIACA) – Market cap: $27.38 billion
Slack (WORK) – Market cap: $25.54 billion
Caesars Entertainment (CZR) – Market cap: $22.75 billion
Kellogg (K) – Market cap: $22.37 billion
Hewlett Packard Enterprise (HPE) – Market cap: $20.8 billion
United Airlines (UAL) – Market cap: $19.47 billion
AMC Entertainment (AMC) – Market cap: $19.45 billion
GameStop (GME) – Market cap: $18.27 billion
