Dogecoin Soars To Near 15-Cent Mark: What's Going On?

Dogecoin DOGE/USD traded nearly 6% higher at $0.15 over 24 hours leading up to early Monday morning. 

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE spiked alongside other major coins at press time as the global cryptocurrency market cap rose 4.6% to $2.1 trillion at press time.

DOGE was among the most mentioned coins on Twitter. It attracted 2,171 tweets at press time, according to Cointrendz data.

The three most mentioned coins — XRP, Bitcoin and Ethereum — attracted 41,474, 11,290, and 4,076 tweets, respectively. 

DOGE was also seen trending among retail investors and was featured on Stocktwits list of trending tickers at press time. The meme cryptocurrency also trended on CoinMarketCap.

The rise in the price of Bitcoin on Sunday night was driven by “fundamental buying pressure” according to Willy Woo, an on-chain analyst.

DOGE could trade up over the 15-cent mark with sustained momentum thanks to a pattern seen on the coin’s chart Sunday, according to Benzinga’s Melanie Schaffer. 

A survey conducted by Benzinga in March indicated that a vast majority think that DOGE would mint a fresh all-new high by 2023; 68.6% of those polled said that DOGE would touch a new all-time high, while 31.4% said it wouldn’t.

On Sunday, McDonald’s teased its followers by posting “wleomce to mcodandl’s” in a tweet. The move appeared akin to deliberate misspelling in a similar fashion to HODL. 

Dogecoin Chatter: DOGE co-creator Billy Markus tweeted Sunday that a DOGE-based social media website would be  “pretty sick.” 

Recently, Tesla Inc TSLA CEO and DOGE-bull Elon Musk asked his Twitter followers if a new social platform is needed. Musk responded “that would be sickkk” to a Twitter user who suggested that he purchase Twitter and change its logo from a bird to a “doge.”

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