Why Dogecoin (DOGE) Is Edging Higher Today


Dogecoin (CRYPTO: DOGE)  traded 1.25% higher at $0.14 over 24 hours leading up to early Friday morning.

DOGE traded higher alongside major cryptocurrencies as the global cryptocurrency market cap rose 0.2% to $1.8 trillion at press time.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour 1.1%
24-hour against Bitcoin 0.9%
24-hour against Ethereum 0.1%
7-day 2.65%
30-day -1.4%

YTD performance

-18.4%

The DOGE Factors 

  • Dogecoin was trending on the price-tracking website CoinMarketCap at press time.
  • DOGE was not among the most mentioned cryptocurrencies on Twitter at press time, according to Cointrendz data
  • The 24-hour trading volume for Dogecoin fell 15.3% to $1.4 billion at press time, according to CoinMarketCap data
  • Coinglass data indicated that $4.46 million worth of DOGE futures were liquidated in the preceding 24 hours as the meme cryptocurrency rose at press time

Earnings Boost Stocks, Crypto

Strong earnings by companies listed on U.S. bourses boosted stocks on Thursday in New York. Risk assets, including cryptocurrencies, were buoyant in general. Numbers released on the same day indicated that U.S. GDP contracted in the first quarter. Analysts expect the hawkish tone from the U.S. Federal Reserve could moderate.

Bitcoin Adherent Roger Ver Turns Dogecoin Fan

Bitcoin promoter and early investor in the apex coin told Bloomberg in an interview that “Dogecoin is significantly better.” The meme coin was the first choice in the contenders he chose for the world’s dominant cryptocurrency.

Jamestown To Accept Doge, Other Crypto For Rent

Jamestown, a real estate investment and management firm, said it will accept cryptocurrency, including Dogecoin, for rent payments for its properties in the United States. The firm also has plans to expand the plan to Europe, according to rew-online.com. 

DOGE On The Web

Dogecoin co-creator Billy Markus held a poll on Twitter and asked his 1.4 million followers when will recession trend. 29% of the 7,748 votes were in favor of “not this year.” The second and third quarters saw 27.8% and 24.4% of votes. While Q4 was chosen by 18.8% of the respondents.

Read Next: PayPal CEO Wants To Double Down On Digital Wallets, Sees Them As The Future

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.





Read Full Article

spot_imgspot_imgspot_img

Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here

spot_imgspot_img