The value of dogecoin, a cryptocurrency originally invented as a joke, surged to an all time high of over 50 cents Tuesday, a landmark as enthusiastic online traders continue efforts to push the digital currency towards $1.
Dogecoin passed $0.50 Tuesday.
At the time of writing, dogecoin was trading at around $0.53 a coin—a record high.
The price was up 36% from the previous day and has risen 95% over the past week.
Dogecoin’s market cap of $69 billion places it as the fourth most valuable cryptocurrency, behind bitcoin, ethereum and Binance Coin.