Dogecoin Skyrockets 6%, Outperforming Crypto Market


Dogecoin (DOGE) is currently the top performer among the top 20 digital assets, with a 6% surge in the past 24 hours. The meme coin is currently priced at $0.088, according to CoinGecko. 

The crypto market as a whole is in the green today, with Bitcoin up 1.3% over the same period, trading for $30,432. Ethereum, which recently completed a much-anticipated upgrade, is up 5%, and is currently trading above $2,000, a level it last reached in May. 

Dogecoin is leading the charge, however. Over the past week, the eighth-largest cryptocurrency by market cap has seen its value fluctuate significantly, largely due to tweets from Elon Musk. 

The Tesla CEO and Twitter founder has long professed his admiration for DOGE, and last week, the Shiba Inu meme logo of the coin briefly replaced the regular blue bird logo of Twitter, without any explanation. The asset briefly soared as a result. 

It then fell again, and the reason behind today’s gains is unclear. An announcement was made earlier that Twitter had teamed up with trading app eToro to allow crypto and stock trading. Musk has previously suggested integrating crypto payments into the microblogging website, and even hinted that DOGE could be the currency. 

The world’s second-richest man has plans to make the platform an “everything app.” The meme coin was created by a group of engineers in 2013 as a joke and was not expected to be taken so seriously. However, the coin gained a strong following after Musk started supporting it on Twitter and, at one point, had a larger market cap than many companies in the S&P 500. 


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