Dogecoin co-creator sold all of his coins for just enough to afford a used Honda Civic in 2015 – Now DOGE is bigger than Honda – Honda Motor Company (HMC)

Dogecoin (DOGE), which hit an all-time high near the 45-cent level on Monday night, has now overtaken the automaker Honda Motor Co. Ltd. (NYSE: HMC) in terms of market capitalization.

What happened: The joke cryptocurrency has risen 10.8% in the past 24 hours to $ 0.4245 at the time of publication, giving it a market cap of $ 54.64 billion. By comparison, Honda has a market cap of $ 54.52 billion at Monday’s close.

The event is significant because Dogecoin co-creator Billy Markus recently revealed that he sold all of his cryptocurrency holdings in 2015 for an amount equivalent to what a used Honda Civic would cost. at this moment.

See also: How to buy Dogecoin (DOGE)

Markus clarified in an interview with Benzinga in March that he had in fact never bought a used car by selling his cryptocurrency holdings for nearly $ 10,000 in 2015, but had used it to pay rent. .

Dogecoin’s market cap also puts the cryptocurrency joke ahead of companies like Emerson Electric Co. (NYSE: EMR) and Vodafone Group Plc (NASDAQ: VOD).

Emerson has a market valuation of $ 54.56 billion and Vodafone has a market valuation of $ 54.18 billion, according to Monday’s close.

Why is this important: Dogecoin hit an all-time high on Monday a few days before Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s planned appearance on “Saturday Night Live” where the cryptocurrency joke is expected to feature. Musk is a big supporter of Dogecoin.

The Shiba Inu-themed cryptocurrency is now the fifth largest cryptocurrency by market cap, according to data from CoinMarketCap.

The cryptocurrency Bitcoin (BTC) high, which reached an all-time high last month of $ 64,863.10, is down 3.5% in the past 24 hours to $ 55,757.48.

In terms of returns since the start of the year, the coin has far surpassed the largest cryptocurrency in terms of market cap. DOGE has posted gains of 8,792.74% year-to-date, while BTC returns are relatively pale at 91.29%.

Read more: How Dogecoin Can Become A Usable Currency Like Any Other, According To Mark Cuban

Photo by Morefield Gallery on Flickr

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