Why Is Dogecoin Trading 11% Higher Today?

Dogecoin DOGE/USD traded nearly 11% higher at $0.12 in the early hours of Friday morning. 

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE spiked alongside other major coins as the global cryptocurrency market cap rose 2.8% to $1.7 trillion at press time.

DOGE was among the most mentioned coins on Twitter. At press time, it attracted 160 tweets, according to Cointrendz data.

The three most mentioned coins — Bitcoin, Ethereum, and Solana — attracted 1,125, 511, and 494 tweets, respectively. 

Cryptocurrencies rallied along with other risk assets on Thursday despite the invasion of Ukraine by Russia which was underway. Cryptocurrency trader Michaël van de Poppe said he saw a considerable upside for altcoins. 

On Thursday, BNY Mellon Corp, a bank in which Warren Buffett’s Berkshire Hathaway Inc is an investor, said it has partnered with Chainalysis to track its clients’ Bitcoin, Ethereum, Dogecoin and cryptocurrency transactions. 

Also on the same day, Billy Markus, the co-creator of DOGE, urged Twitter to include the meme coin in its Twitter tip jar. He said, “Dogecoin is BY FAR the most used cryptocurrency for tipping, in the history of cryptocurrency.”

Dogecoin Chatter: Markus seemingly addressed the ongoing war in Ukraine in a Tweet on Thursday. 

if a bunch of innocent people have to die for your “legacy,” your legacy can go fuck itself

— Shibetoshi Nakamoto (@BillyM2k) February 24, 2022

CEO of Gokhshtein Media and Dogecoin-bull  David Gokhshtein said that Bitcoin “does not fix the current conflict.”

#bitcoin does not fix this current conflict.

to allow Putin, a dictator, to use it to avoid sanctions is not why #bitcoin was created.

— David Gokhshtein (@davidgokhshtein) February 24, 2022

“To allow Putin, a dictator, to use it to avoid sanctions is not why [Bitcoin] was created.”

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