Why Is Dogecoin Going Up Today?

Dogecoin DOGE/USD traded 2.17%% higher at $0.27 early Tuesday.
What’s Moving? Against larger peers — Bitcoin and Ethereum — DOGE rose 2.5% and 0.68%, respectively, over 24 hours. 

The meme coin has risen 10% over a seven-day trailing period.

Since 2021 began, DOGE has shot up 4681%.

In May, DOGE had touched an all-time high of $0.74.
See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE moved in tandem with other major coins at press time when the global cryptocurrency market cap rose 1.19% to $2.63 trillion.

DOGE was the fourth-most trending coin on Twitter at press time, as per CoinTrendz data behind Bitcoin, Ethereum, and Shiba Inu.  

DOGE was mentioned in 2,440 tweets, while Bitcoin, Ethereum, and Shiba Inu were mentioned in 10,930, 4,069, and 4,028 tweets, respectively. DOGE was trending on CoinMarketCap at press time as well.

The wider cryptocurrency trend is being driven by Bitcoin — the apex cryptocurrency is rising ahead of the listing of yet another exchange-traded fund. The VanEck Bitcoin Futures ETF is expected to begin trading on Tuesday, as per CoinDesk.

At the same time, large investors have been moving their coins off cryptocurrency exchanges for probable safekeeping for long-term holding.

Meanwhile, a Dogecoin-knockoff Shibanomics has soared over 1000% in the last 24 hours. Shibanomics is a deflationary token on the Binance Smart Chain.

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