Price analysis 4/16: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, UNI, LINK

Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap.

This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017.

Daily cryptocurrency market performance. Source: Coin360