Polygon Crypto

Polygon Crypto Might Overtake Dogecoin In Terms Of Market Cap

Polygon (MATIC) is one of the most prominent cryptocurrency trading and investing options. Today, the Polygon crypto gained substantial value as the crypto market was seen recovering a bit. Moreover, it also noticed a surge in the 24-hour trade volume. Also, there are possibilities that it might be able to overtake Dogecoin (DOGE), the King of meme coins, which is holding the 10th position in the market according to the market capitalization.

What Is Polygon Crypto?

The Polygon CoinMarketCap page defines MATIC as:

“An ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.”

What Is Dogecoin?

The Dogecoin CoinMarketCap page suggests that DOGE is:

“Based on the popular “doge” Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.”

Polygon Price Today

Polygon (MATIC) 1D Graph (Source: CoinmarketCap)

The Polygon price today was up by 6.53% and the MATIC token traded at $0.8646 at the time of writing on Tuesday, October 18, 2022. The market capitalization of the Polygon crypto was $7.55 billion, up by 6.26%. In addition, the 24-hour trade volume of the token surged by a huge 149.83% and was at $47.3 million. The day’s high was recorded at $0.876.

Dogecoin Price Today

Dogecoin (DOGE) 1D Graph (Source: CoinmarketCap)

The Dogecoin price today was down slightly by 0.11% and the DOGE token traded at $0.8646 at the time of reporting on Tuesday, October 18, 2022. The Dogecoin market cap was $7.86 billion, declining by 0.06%. On the contrary, the 24-hour trade volume of the token surged by a huge 10.15% and was at $184.67 million. The day’s low was recorded at $0.0592.

Since the market valuation of MATIC is nearing the Dogecoin market cap, there are high chances of it entering the list of top 10 cryptocurrencies after pushing DOGE.

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