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'Joke' Bitcoin Rival And Elon Musk's 'Fav' Cryptocurrency Is Suddenly Soaring

• https://www.forbes.com

Bitcoin and the wider cryptocurrency market has been surging recently, pushed on by iPhone maker Apple and social media giant Facebook's newfound interest in bitcoin and cryptocurrencies, though some are concerned the bubble might have burst this week.

The bitcoin price, up over 200% since the beginning of the year, has largely eclipsed most of its contemporaries, many of which have failed to perform as well as bitcoin itself.

Now, the dogecoin price, a tongue-in-cheek bitcoin rival named by Tesla chief executive Elon Musk as his "fav" cryptocurrency earlier this year, has suddenly jumped by 32% in just a few minutes after Binance, the world's largest bitcoin and cryptocurrency exchange by volume, said it will be listing the coin.

Malta-based Binance announced it would be listing Dogecoin later today, expected to begin trading at 8am New York time, with users already able to deposit dogecoin in preparation for trading. 

The move could raise eyebrows in the bitcoin and cryptocurrency community after Binance controversially delisted bitcoin rival bitcoin SV earlier this year, leading to accusations the exchange was playing favorites with cryptocurrencies.

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