Why Is Dogecoin Moving Higher Today?

Dogecoin (CRYPTO: DOGE) traded 1.2% higher at $0.20 over 24 hours leading up to the early hours of Thursday.

What’s Moving? The Shiba Inu-themed coin fell 3.27% for the week. Against Bitcoin (CRYPTO: BTC), DOGE traded 1.77% lower and against Ethereum (CRYPTO: ETH) fell 6.09% over 24 hours.

DOGE’s year-to-date gains stand at 3,395.32%.

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Why Is It Moving? The meme-themed coin moved in sync with major cryptocurrencies in a 24 hour period as the global cryptocurrency market cap rose 3.42% to $1.61 trillion.

DOGE has been hovering around the 20 cent mark since July 21 and this remains a key level, as per Benzinga’s Melanie Schaffer.

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Schaffer noted that if DOGE can maintain support at the 20 cent mark, it has headway to move up towards the 23-cent level. However, below 19 cents, the meme cryptocurrency could find its way to the 16-cent mark.

Meanwhile, Kraft-Heinz Co (NASDAQ:KHC) unit Oscar Mayer put out a limited edition pack of “Hot Doge Wieners” with a cash value of 10,000 DOGE or approximately $2,000 for sale on eBay Inc’s (NASDAQ:EBAY) platform.

BEHODL This limited-edition pack of Hot Doge Wieners that comes with the cash value of 10,000 Dogecoins There’s only one pack in existence… and it can be yours  Bid it for a chance to get it at https://t.co/ZrrUxfjPPs pic.twitter.com/FHWGhpGthF

— Oscar Mayer (@oscarmayer) August 4, 2021

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