Why Is Dogecoin Shooting Up Today?

Dogecoin DOGE/USD traded 6.48% higher at $0.25 over 24 hours in the early hours of Tuesday.

What’s Moving? DOGE has shot up 27.54% over a seven-day trailing period. 

The Shiba Inu-themed cryptocurrency was up 0.12% against Bitcoin BTC/USD and 0.36% down against Ethereum ETH/USD over 24 hours.

Since 2021 began, DOGE has risen 4340.70%.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE has outperformed BTC and ETH in terms of weekly gains as of press time. Major cryptocurrencies traded in the green at press time with the global cryptocurrency market cap rising 5.2% to $1.84 trillion.

See Also: Dogecoin Outperforms Bitcoin, Ethereum Into The Green As Positive On-Chain Metrics Buoy Market

DOGE was the third most mentioned cryptocurrency on Twitter Inc’s TWTR platform at press time behind BTC and ETH, as per Cointrendz data.

On Monday, popular blockchain analytics firm Chainalysis said it expanded coverage to include Dogecoin after it was “frequently requested.”

Meanwhile, AMC Entertainment Holdings Inc AMC said it will accept BTC as payment for tickets and concessions on Monday, but clamor is growing on Twitter for the chain to also accept DOGE. 

Read Next: This Cryptocurrency Gave The Best Returns In July, And No — It's Not Dogecoin Or Any Meme Coin