Dogecoin Continues To Outperform Bitcoin, Ethereum: What You Need To Know

Dogecoin DOGE/USD traded 6.1% higher over 24 hours at $0.16 leading up to early Wednesday morning. 

DOGE surged at press time even as major coins — Bitcoin and Ethereum — traded in the red. The global cryptocurrency market cap declined 3.3% to $2.1 trillion. 

See Also: How To Buy Dogecoin (DOGE)

The DOGE Factors

DOGE was among the most discussed coins on Twitter. It was mentioned in 2,660 tweets, according to Cointrendz data. The three most discussed coins were Ripple, Bitcoin, and Elrond.

Coinglass data showed that $17.07 million worth of DOGE futures were liquidated in the past 24 hours as the meme cryptocurrency spiked.

DOGE 24-hour trading volumes soared 132.6% to $5.96 billion, according to data from CoinMarketCap. A significant spike was seen in high-value DOGE transactions on Tuesday.

Cryptocurrencies Remain Under Pressure 

Risk assets continued to be under pressure after two dovish officials of the U.S. Federal Reserve made comments indicative of interest rate hikes yet to come. The apex coin is not immune to the current round of consolidation across financial markets, said OANDA senior market analyst Craig Erlam. 

Dogecoin Flying Higher After Breaking From This Key Pattern

DOGE surged on Tuesday after breaking up from a bull flag pattern. The eight-day exponential moving average (EMA) has been guiding DOGE higher and acting as a strong support level, according to Benzinga’s Melanie Schaffer. 

DOGE Wishes And Demands For Twitter

It was reported Tuesday that DOGE bull and Tesla Inc TSLA CEO Elon Musk joined Twitter Inc’s TWTR board of directors. Musk’s picking up a 9.2% stake in the social media company is driving expectations that Twitter will crack down on cryptocurrency scams.

DOGE Around The Web

The meme coin's co-creator Billy Markus said Twitter could alleviate spam if it implemented a feature to pay someone in Dogecoin to tag them or reply to their threads.

if Twitter implemented a feature where you had to pay someone 1 dogecoin to tag them or reply to their threads, would that fix the spam problem?

cuz yeah then spam away bots, i’ll take your doge

— Shibetoshi Nakamoto (@BillyM2k) April 6, 2022

Dogecoin-oriented Twitter handle Mishaboar said another DOGE tipping bot is now live on Twitter. Mishaboar said the bot was developed by developers of the MyDoge Wallet. 

Woah, another #Dogecoin tipping bot is now live on Twitter, by the folks at @MyDogeOfficial.

Non-custodial and directly from your wallet? What is this sorcery?#Dogecoin #TippingTuesday https://t.co/9AhpNZCDMR

— Mishaboar (@mishaboar) April 5, 2022

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