Dogecoin DOGE/USD is trading lower by 4.13% to $0.0657 Thursday morning. The altcoin is trading lower, pulling back after recent strength in the price of Bitcoin following BlackRock's Bitcoin ETF application.
What Happened?
The cryptocurrency market is experiencing a notable upswing driven by several favorable developments, including the introduction of EDX Markets, a newly established exchange supported by prominent financial entities such as Charles Schwab, Fidelity and Citadel Securities.
These influential players from the finance industry are lending their backing to EDX Markets, contributing to the positive momentum within the market...Read More
See Also: Why IGM Biosciences (IGMS) Stock Is Trading Higher
What Else?
Bitcoin's price movements, including recent strength, often attract significant attention from investors, media and the general public. This increased market attention and positive sentiment can spill over to other cryptocurrencies, including Dogecoin.
As more people become interested in cryptocurrencies due to Bitcoin's rise, they may explore other altcoins like Dogecoin, leading to increased demand and potential price appreciation.
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