Why Is Dogecoin On The Rise Today?

Dogecoin DOGE/USD traded 2.88% higher at $0.275 over 24 hours early Tuesday morning.

What’s Moving? The meme cryptocurrency has risen 4.54% over a seven-day trailing period.

DOGE fell 0.17% and 1.39% against Bitcoin and Ethereum, respectively, over 24 hours.

Since the year began, DOGE has soared 4717.06%, while in the last 30 days its gains have amounted to 24.32%.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE traded higher alongside other major coins as the global cryptocurrency market capitalization rose 2.4% to $2.66 trillion.

DOGE was the tenth on the list of “Top 10 Mentions” on Twitter, as compiled by Cointrendz. It was mentioned in 1,691 tweets.

The most mentions were received by Bitcoin and DOGE-rival Shiba Inu, which attracted 9,601 and 5,995 tweets, respectively. 

“Retail investors are heating up the crypto market,” as per CryptoQuant CEO Ki Young Ju. Meanwhile, despite the all-time high prices of the apex cryptocurrency, profit-taking has been mild, as per Glassnode.

On Monday, the largest cryptocurrency exchange by volume, the Changpeng Zhao-led Binance, announced support for the SHIB/DOGE trading pair.

Dallas Mavericks owner Mark Cuban gave a word of caution to investors concerning SHIB and DOGE. Cuban said, while these coins are an inexpensive way to learn about cryptocurrencies, they “aren’t investments.”

Meanwhile, a popular pseudonymous cryptocurrency analyst Smart Contracter told his Twitter following that DOGE would rise to the $1 mark, which is a massive 270.4% upside.

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