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Elon Musk’s favorite coin made it to the top five cryptocurrencies



Tesla CEO Elon Musk hinted on Twitter that he might talk about the Dogecoin (DOGE) cryptocurrency on May 8 on the hit Saturday Night Live show. DOGE, according to Musk, is his favorite coin. Last week, this altcoin not only stayed in the top ten cryptocurrencies, but was also able to break into the top five digital assets according to CoinMarketCap. Today the coin has soared in price by more than 20% to $ 0.477. Dogecoin’s capitalization on Tuesday, May 4, rose to $ 57.485 billion.The coin secured itself in the fifth place in the ranking of the largest digital currencies. If the growth continues in the coming days, and many traders no longer doubt this, then DOGE will be able to knock out XRP from the fourth place. XRP capitalization declined by more than 9% to $ 67.084 billion. User activity on the Dogecoin network in mid-April soared to its highest level since January 2014. The number of transactions on the blockchain reached 138,382 per day. Then the network activity began to weaken. Now the rise in the cost of altcoin is observed against the background of low transactional activity of users. According to BitinfoCharts, DOGE addresses make about 40,600 transactions daily this week.

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