Polkadot maintains a commanding lead above Dogecoin despite Elon Musk’s viral Shiba Inu photo
Polkadot, the native cryptocurrency of the eponymous nominated proof-of-stake blockchain, recently surpassed meme cryptocurrency Dogecoin by market capitalization.
According to CoinMarketCap data, Polkadot is currently valued at $35 billion, which is almost $4 billion higher than that of the canine coin.
As reported by U.Today, Tesla CEO Elon Musk posting a photo of his Shiba Inu dog resulted in only a short-term price spike for Dogecoin, while one of its offshoots posted triple-digit gains.
The fact that Dogecoin failed to log any sustained gains because of the viral photo is the latest sign that Musk’s influence on the price action of the joke cryptocurrency continues to wane.
Source: u.today