Meme-based cryptocurrency Dogecoin soars 40% to all-time high

FILE PHOTO: Cryptocurrency representations are seen in front of the Dogecoin logo in this illustration picture taken April 20, 2021. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Meme-based virtual currency Dogecoin soared on Wednesday to an all-time high, extending its 2021 rally to become the fourth-biggest digital coin.

Dogecoin, launched as a satirical critique of 2013's cryptocurrency frenzy, has climbed 41% in the last 24 hours to a record $0.68, according to CoinMarketCap.