Why Is Dogecoin Moving Today?

Why Is Dogecoin Moving Today?

Dogecoin traded 3.2% lower over 24 hours at $0.1994 Friday morning.

What’s Moving? The Shiba Inu-themed cryptocurrency is up 4% over a seven-day trailing period.

Over 24 hours, DOGE moved 1.4% higher against BTC and 4.2% lower against ETH.

Since the year began, DOGE has shot up more than 3,500%.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE remained largely rangebound along with major cryptocurrencies at press time hovering around the 20 cent mark.

DOGE was among the ten most discussed cryptocurrencies on Twitter Inc’s TWTR platform, according to Cointrendz data.

A trending tweet discussed whether AMC Entertainment Holdings Inc AMC should accept DOGE. Tesla Inc TSLA CEO Elon Musk was among those who liked the post. At press time, the tweet had over 4,000 likes and was retweeted 586 times.

See Also: As Dogecoin, Other Meme Coins Struggle To Break Out, Baby Cake Shoots Up 40%

Meanwhile “Shark Tank” fame Kevin O’Leary called DOGE “entertainment” and likened making trades in the meme coin to betting at a casino.

O’Leary’s stance that DOGE is “pure speculation” is diametrically opposite of fellow Shark Tank host Mark Cuban, whose basketball team Dallas Mavericks accepts DOGE as payment.

Meanwhile, as per a report from Crypto.com, the number of global cryptocurrency users has doubled in the last four months, driven primarily by interest in Dogecoin and knockoff Shiba Inu SHIB/USD.

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