Why Is Dogecoin Trading Flat Today?

Dogecoin DOGE/USD traded largely flat early Thursday morning. It was down 0.29% at $0.18 over 24 hours.

Why Is It Moving? The meme cryptocurrency has fallen 13.72% over a seven-day trailing period.

The 24-hour DOGE trading volumes fell 1.97% to $954.64 million at press time, as per CoinMarketCap data.

DOGE rose 1.01% against the apex cryptocurrency Bitcoin and fell 1.52% against Ethereum, the second-largest coin by market cap.

So far this year, DOGE has gained 3027.22%. It has fallen 38.08% and 30.36% over 30 and 90-day periods, respectively. 

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE was down along with Bitcoin at press time, as the global cryptocurrency market cap inched up 0.46% to $2.37 trillion.

DOGE was the second-most mentioned coin on Twitter at press time.It attracted 5,791 tweets, while the most mentioned coin, Bitcoin, attracted 7,462 tweets, as per Cointrendz data.

Cryptocurrency markets are still correlated with equity markets as Omicron fears remain intact in the background, said Marcus Sotiriou, an analyst at the United Kingdom-based digital asset broker GlobalBlock.

DOGE was one of the most searched strings in 2021 as per trends released by Alphabet Inc GOOGL GOOG search engine unit Google.

Meanwhile, a group of independent developers has made it possible to tip on Twitter using DOGE through the SoDogeTip bot. The same bot has been used on Reddit since 2017, as per an earlier report.

On Thursday, DOGE co-creator Billy Markus said on Twitter that the owner of Kabosu — the Shiba Inu dog featured in the original DOGE meme — donated the proceeds from NFT sales to “people in need all across the world” but she is facing harassment for her act of charity.

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