The price of Dogecoin has surpassed 12 cents, reaching an all-time high.

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 The virtual currency, which was originally launched more than seven years ago as an internet parody, grew by over 85% over the past 24 hours and, in CoinDesk, traded at $0.13. It now has a market capitalization of more than $17 billion.

The latest spike comes as investors prepare for Coinbase Global's direct listing, which could help further legitimise cryptocurrency buying and selling as a company. Ahead of the listing, Bitcoin soared to a new high of $62,700, and other cryptocurrencies have also seen significant increases.


The growth of Dogecoin, on the other hand, is noteworthy. Tesla CEO Elon Musk is a major supporter of the currency, which has risen more than 2,000 percent since the start of the year.



The only digital moneys that have reached record highs this week are not Ethereum and Bitcoins. For the first time, Dogecoin, the crypocurrency with the Shiba Inu Dog's logo, has exceeded 10 cents.



Coinbase, meanwhile, is set for its debut Wednesday. The company is profitable and has reported strong revenue growth.
    Based on recent private stock trades for Coinbase, the company is valued at a stunning level of nearly $68 billion. To put that into context, it's a little bit more than the market value of New York Stock Exchange owner Intercontinental Exchange 

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