Dogecoin Spikes After Fed Raises Rates — Community Left Wondering If Elon Musk’s Master Plan Involves Meme Coin – Dogecoin – United States Dollar ($DOGE)


Dogecoin (CRYPTO: DOGE) traded 3.5% higher at $0.12 over 24 hours leading up to early Thursday morning.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour 3.5%
24-hour against Bitcoin -0.2%
24-hour against Ethereum -1.1%
7-day 1%
30-day -20.8%

YTD performance

-32.1%

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE traded higher along with other major coins as the global cryptocurrency market cap rose 4% to $1.8 trillion at press time. 

The meme cryptocurrency was not amongst the most discussed coins on Twitter, according to Cointrendz data.

DOGE rose higher after the U.S. Federal Reserve raised the target fed funds rate by 0.25% to between 0.25% and 0.5% on Wednesday.

A scam targeting DOGE investors was noted by Benzinga on Thursday. A verified imposter account, masquerading as Tesla Inc (NASDAQ:TSLA) Elon Musk, pushed a fraudulent giveaway on Twitter and gathered 134,057.40 DOGE ($15,811.49) in a wallet at the time it was reported.

Dogecoin Chatter: DOGE co-creator Billy Markus shared his own take on Musk’s “master plan” on Thursday. 

YouTuber Matt Wallace pushed the idea that Musk’s master plan involved Dogecoin. 

Musk’s master plan also captured the attention of u/Lewandabski710 on r/Dogecoin discussion forum on Reddit. 

Screenshot From r/Dogecoin — A Reddit Discussion Forum

Read Next: Crypto World Abuzz With Inflation Talk: Here’s What It Means For Bitcoin, Ethereum, Dogecoin Prices





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