Dogecoin Almost Two Times Bigger Than Credit Suisse as Price Climbs

Dogecoin Almost Two Times Bigger Than Credit Suisse as Price Climbs

Dogecoin has become the favorite among many crypto traders and investors in recent weeks. On Thursday, many of its proponents took to social media to proclaim victory as the digital currency is now currently two times bigger than Swiss lender Credit Suisse.At this time, Dogecoin is worth more than $50 billion, considerably higher than the valuation of $23.9 billion for Credit Suisse and $32 billion for Barclays.Supporters celebrated Dogecoin success while using Credit Suisse as an example of an old institution that doesn't match the worth of the cryptocurrency.Credit Suisse has been struggling recently. In early April, the lender revealed it was expecting heavy losses in the wake of the collapse of U.S. hedge fund Archegos Capital. The bank, which is more than a century-and-a-half old, took a charge of $4.7 billion as a result and projected a first-quarter pre-tax loss of around $960.4 million.Dogecoin, meanwhile, has been riding high on a wave of good publicity from the likes of Tesla's Elon Musk, who has tweeted enthusiastically about it. The cryptocurrency had an especially successful day on Tuesday, which traders dubbed "Doge Day." (On that day, April 20, Dogecoin, was briefly worth $54 billion.) It ended up rallying by more