(Bloomberg)– Dogecoin, the Shiba Inu-themed cryptocurrency started as a joke in 2013, surpassed leading competitors in the week as it introduced on the Coinbase exchange.While the greatest cryptocurrencies Bitcoin and Ether were up 6.2% and 14.9% over the past seven days respectively, Dogecoin advanced 24% over the same period since 7:50 a.m. in London, according to CoinGecko prices. While Coinbase said weeks ago that it planned to include Dogecoin, the announcement that it now supports the meme-based token on Coinbase.com and in the Coinbase Android and iOS apps indicates Dogecoin is more accessible and continuing to establish itself.”This Dogecoin bounce comes during a period where the cryptoverse is seeing a consolidation of positions,” Edward Moya, senior market expert at Oanda Corp., said in a note Wednesday where he cited the Coinbase development as reinforcing the price. “So we ought to not be amazed if this recent surge fizzles– or if it makes another attempt at the moon.”Dogecoin is up more than 14,000% in the past year, in a run-up thats surprised even the crypto community and gives it the sixth-biggest market worth. Its gains have been pointed out as an example of the power of retail traders, the attraction of memes and a case research study in what can take place in a world where the Federal Reserve and other central banks are practicing fairly loose monetary policy to attempt to overcome Covid-19s economic damage.And it would not be Dogecoin without a little social-media action to liven things up. Theres little denying the Twitter pronouncements of Tesla Inc. creator Elon Musk have moved the rates of Bitcoin and Dogecoin numerous times. Numerous in the Bitcoin community have actually been puzzled by the worlds third-richest guy of late, for reasons including his U-turn on accepting Bitcoin as payment and a tweet alluding to a separation with the greatest cryptocurrency. But some Dogecoin fans are actively courting him.”If anybody has a problem with Elon theyll need to go through the #DogeArmy initially,” one Twitter user quipped.Story continuesAnd Billy Markus, a co-creator of Dogecoin who is no longer coding on the project, joked that he bought a brand-new Tesla with Dogecoin– with photos that revealed a toy-sized replica car. Musk “liked” the tweet.More stories like this are offered on bloomberg.comSubscribe now to remain ahead with the most relied on service news source. © 2021 Bloomberg L.P.