Dogecoin DOGE/USD traded 2.2% lower at $0.17 over 24 hours leading up to early Wednesday morning.
What’s Moving? The Billy Markus co-created cryptocurrency has risen 8% over a seven-day trailing period.
DOGE traded 1% lower against Bitcoin (BTC) over 24 hours, while it rose 0.4% against Ethereum (ETH) in the same period.
The meme cryptocurrency has fallen 0.7% over a 30-day period and dropped 34.65% over 90 days.
Since the year began, DOGE has lost 4.1% of its value. It touched an all-time high of $0.74 in May.
See Also: How To Buy Dogecoin (DOGE)
Why Is It Moving? DOGE traded in tandem with other major coins, which were in the red as the global cryptocurrency market cap fell 1.7% to $2 trillion.
DOGE was among the most mentioned coins on Twitter. At press time, it attracted 419 tweets, according to Cointrendz data.
The three most mentioned coins were Bitcoin, Ethereum, and Cardano, which attracted 2,928, 1,109, and 929 tweets respectively.
Tough comments by regulatory authorities in India and Pakistan coupled with the restriction of cryptocurrency advertisements by the Monetary Authority of Singapore were cited as some examples of “actions that will only shift economic value to other countries who are more accepting of this [cryptocurrency] revolution, like El Salvador,” said Marcus Sotiriou, a senior analyst with United Kingdom-based digital asset broker GlobalBlock.
On Tuesday, DOGE-bull and Dallas Mavericks owner Mark Cuban expressed agreement with a tweet by “Crypto Jebb” that asked Bitcoin users to “kiss the A$$ of dogecoin and the doge coins because they are the gateway drug to Bitcoin"
DOGE co-creator Billy Markus also chimed in and took a dig at Bitcoin maximalists, bemoaning their “marketing.”
Meanwhile, Tesla Inc TSLA CEO Elon Musk tweeted a photo of a rocket headed towards the Moon and said in a separate tweet “Back to the moon soon.”
Going to the moon is often a reference in cryptocurrency talk for the price of a token rising to extraordinarily high levels.
Musk’s tweet attracted the attention of several DOGE-oriented Twitter handles soon enough.
Read Next: Here's What Elon Musk Has To Say About Dogecoin's Joke Origins
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
