Dogecoin surged more than 812 percent on Thursday to about 0.07 per coin, giving the meme-based cryptocurrency a market value of about 9.39 billion dollars.
Robinhood has blocked Dogecoin trading on their platform amid soaring Dogecoin prices.
Dogecoin, which was started as a joke in 2013, is now the 10th most valuable cryptocurrency by market value, just behind Bitcoin Cash and ahead of BNB.
Why the token has soared is unclear but it's likely largely caused by attention from public Reddit trading collective Wall Street Bets along with a TikTok post about the "dogecoin army" by niche celebrity Carole Baskin from Netflix's "Tiger King."
The price of Bitcoin bounced back to 33,000 dollars level on early Thursday, following the cryptocurrency's after fluctuating between 30,921 and 34,320 dollars.
Bitcoin increased by 5.67 percent in the last 24 hours to 32,921.77 dollars, while the weekly gain of the currency was calculated at 9.61 percent. Bitcoin's total market volume also increased by 40 billion dollars to 620 billion dollars from 580 billion dollars, over the last 24 hours.
With increasing corporate purchases, the total market capitalisation, which exceeded the 1.0 trillion dollar limit for the first time in history on January 7, was at 984 billion dollars in the early hours of the new day, after hitting the 1.0 trillion-dollar level once more.
While the value of 25 units decreased from the highest volume of 100 units in the last 24 hours in the crypto money markets, one of the top 10 units were among those that fell. Bitcoin accounted for 63.4 percent of the total market volume in 32,509 markets where 8,351 cryptocurrencies were traded, while the 24-hour trading volume in all markets increased by 27 billion dollars to 166 billion dollars.