Dogecoin – United States Dollar (CRYPTO: $ DOGE), Tesla Motors, Inc. (NASDAQ: TSLA) – Elon Musk Effect: Why Dogecoin Pulls Higher Today



Dogecoin (CRYPTO: DOGE) climbed 6.14% over 24 hours to $ 0.24 early Thursday morning.

What is moving? The Shiba-themed coin fell 2.81% over a seven-day period.

DOGE gained 6.14% against apex cryptocurrency Bitcoin and fell 2.81% against the second largest coin Ethereum.

DOGE has climbed 4,074.77% year-to-date. At time of going to press, DOGE was trading 67.82% below the high of $ 0.74 it reached in May.

See also: How to buy Dogecoin (DOGE)

Why is it moving? The memes-centric coin traded higher in tandem with other major coins at the time of publication, with the cryptocurrency’s global market cap rising 4.49% to 2.38 trillion. dollars.

DOGE did not generate much interest on Twitter at the time of publication and was mentioned in 1,380 tweets, according to data from Cointrendz.

The greatest interest has been observed in Solana and Bitcoin at the time of publication, which were mentioned in 13,053 and 6,421 tweets, respectively.

Wednesday, Ki Young Ju, CEO of analysis platform CryptoQuant, noted that despite the ban on Bitcoin and other cryptocurrencies in China, Chinese miners keep apex cryptocurrency in their mining wallets.

YouTuber Dogecoin Matt Wallace stated that altcoins are “starting to evolve” and that DOGE is currently the most “underrated” Altcoin.

DOGE was going up after Tesla Inc (NASDAQ: TSLA) CEO Elon musk sent three tweets related to the meme, including respond to a “Squid Game” meme published by the cryptocurrency co-creator Billy Markus. Musk also praised Markus’ call to upgrade the DOGE nodes and agreed with another tweet that “if you don’t run a dogecoin node you are satan”.

Read more : Why is the price of XRP increasing today?

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