Dogecoin Bigger Than Entire NFT Market by 800%

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a recent tweet, crypto ranking platform CoinGecko shares a fun fact about the first and largest dog cryptocurrency, Dogecoin (DOGE). CoinGecko noted that Dogecoin is over 8x the entire NFT market cap. Currently sitting among the top ten cryptocurrencies by market capitalization, DOGE has a market capitalization of $16.51 billion. This significantly surpasses (more than 8x) that of the NFT market, which is currently $1.97 billion according to CoinGecko data. Fun Fact: $DOGE has over 8x the entire NFT market cap 🐶 pic.twitter.com/ktRjPXjei4 The NFT market cap has shrunk compared to that seen at the peak of its boom. The NFT boom from about 2021 to 2022 saw non-fungible tokens enter mainstream culture, reaching $2.9 billion in sales in 2021 before falling. NFT trading volume is slightly above $1.6 million in the last 24 hours. Dogecoin was originally created as a joke in late 2013 by Billy Markus and Jackson Palmer. Both thought that cryptocurrency was being taken far too seriously and wasn't much fun. On December 6, 2013, Dogecoin was launched, taking its cue from the famous Doge meme. Despite the NFT market representing thousands of individual projects, collections, and platforms, DOGE's total market cap sits well above the combined valuation of the NFT market, which is noteworthy. This just goes to show how resilient Dogecoin is, as it has weathered the storm of both bear and bull cycles over time and has been in the top ten cryptocurrencies by m...