Dogecoin DOGE/USD traded 2.3% higher at $0.087 over 24 hours leading up to Wednesday morning.
DOGE traded higher along with other major coins as the global cryptocurrency market cap rose 1.5% to $1.3 trillion at press time.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 2.3% |
| 24-hour against Bitcoin | -1.5% |
| 24-hour against Ethereum | -1.85% |
| 7-day | 3.96% |
| 30-day | -32.9% |
|
YTD performance |
-49.6% |
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The DOGE Factors
- DOGE was not among the most mentioned coins on Twitter at press time, according to Cointrendz data.
- The 24-hour trading volume for DOGE increased 11% to $739 million at press time, according to CoinMarketCap.
- Coinglass data indicated over $928,000 worth of DOGE was liquidated over 24 hours as the price of the meme coin saw volatility.
- DOGE’s relative strength index stood at 41.9 at press time, according to Trading View. An RSI below 30 indicates oversold conditions, while over 70 is construed to be overbought.
Crypto Still Riding Equity Coattails
Cryptocurrency markets saw volatility on Wednesday. If S&P500 continues to push higher this week, it is likely that apex coin would follow, according to cryptocurrency trader Justin Bennett
Elon Musk, Dogecoin Co-Creator Squabble
Doge co-creator Jackson Palmer called Tesla Inc TSLA CEO Elon Musk a “grifter” in an interview with Australian media. Palmer also questioned Musk’s seriousness in buying Twitter Inc TWTR. In response, Musk called Palmer a tool and said his children wrote better code than the DOGE co-creator when they were 12.
Bitcoin Devs Wrote DOGE Code
DOGE’s other co-creator Billy Markus, in humor, tweeted Tuesday that Bitcoin developers wrote most of Dogecoin’s code.
Q: who wrote most of the dogecoin code?
— Shibetoshi Nakamoto (@BillyM2k) May 31, 2022
A: bitcoin devs
Musk acknowledged Markus’ humility and said his sense of humor and irreverence is a “big part” of why people love the meme coin.
You’re humble bro.
— Elon Musk (@elonmusk) May 31, 2022
Billy’s sense of humor & irreverence is a big part of why people love Dogecoin.
Markus said the people who came after Palmer did “exponentially more” work on the code base alongside him. Markus said he had only written 20 lines of code and copied the rest.
Read Next: Cardano (ADA) Seen Weakening After Outperforming Bitcoin, Ethereum, Dogecoin In Past Week
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