Why Is Dogecoin Going Up Today?

Dogecoin DOGE/USD rose 3.08% to $0.2066 over 24 hours early Monday morning.

What’s Moving? The meme cryptocurrency has fallen 7.43% over a seven-day trailing period.

DOGE fell 2.2% and 3.31% against Bitcoin and Ethereum respectively over 24 hours.

In the last 30 days, DOGE has fallen 28.78%, while in a 90-day period it has lost 23.86% of its value.

So far this year, DOGE has soared 3434.66%. It touched an all-time high of $0.74 in May.

Why Is It Moving? DOGE rose in tandem with other major coins as the global cryptocurrency market cap rose 5.53% to $2.58 trillion at press time.

DOGE was the fourth most mentioned cryptocurrency on Twitter, as per Cointrendz data. It attracted 3,731 tweets.

Bitcoin, Ethereum, and Solana were the three most mentioned coins on Twitter. They attracted 10,414, 6,460, and 4,723 tweets, respectively.

Major coins recovered Sunday evening after prices of risk assets plummeted due to worries surrounding the new variant of COVID-19 dubbed Omnicron.

After catching the eye of the retail crowd, whales are piling on DOGE as well, according to smart contract activity.

Meanwhile, Tesla Inc TSLA CEO Elon Musk agreed on the importance of educating people about risky leveraged trading.