Dogecoin (DOGE), which reached a record high of 45 cents on Monday night, has now surpassed the carmaker Honda Motor Co., Ltd. (NYSE: HMC) in terms of market capitalization.
What happened: The cryptocurrency joke has risen 10.8% in the last 24 hours to $ 0.4245 during the press, giving it a market capitalization of $ 54.64 billion. By comparison, Honda has a market capitalization of $ 54.52 billion at the end of Monday.
The event is important because Dogecoin co-creator Billy Marcus recently revealed that he sold his entire cryptocurrency possession in 2015 for an amount equivalent to what the Honda Civic would have used at the time.
See also: How to buy Dogecoin (DOGE)
Marcus explained in an interview with Benzinga in March that he had never actually bought a used car, selling his cryptocurrencies for nearly $ 1
Dogecoin’s market capitalization also puts the cryptocurrency joke in front of companies such as Emerson Electric Co. (NYSE: EMR) and Vodafone Group Plc (NASDAQ: VOD).
Emerson has a market value of $ 54.56 billion and Vodafone has a market value of $ 54.18 billion at the end of Monday.
Why it matters: Dogecoin reached an all-time record on Monday, just days ahead Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk’s planned appearance on Saturday Night Live, where the humorous cryptocurrency is expected to appear. Musk is a big supporter of Dogecoin.
The Shiba Inu cryptocurrency is now the fifth largest cryptocurrency by market capitalization, according to CoinMarketCap.
The cryptocurrency at the top of Bitcoin (BTC), which reached a record last month of 64,863.10 dollars, has fallen by 3.5% in the last 24 hours to 55,757.48 dollars.
In terms of returns so far, the meme coin has far surpassed the largest cryptocurrency by market capitalization. DOGE returned profits of 8,792.74% for the year, while the return of BTC is relatively pale at 91.29%.
Read Next: How Dogecoin can become a usable currency like any other, according to Mark Cuban
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