What’s Going On With Dogecoin Today?
By: Shivdeep Dhaliwal
Dogecoin (CRYPTO: DOGE) traded mostly flat in the early hours of Friday.
What’s Moving? The Shiba Inu-themed cryptocurrency traded unchanged at $0.20 over 24 hours leading up to press time. Over a seven-day trailing period, DOGE has fallen 7.74%.
Against Bitcoin (CRYPTO: BTC), Doge fell 0.61% over 24 hours. The coin gained 0.51% against Ethereum (CRYPTO: ETH) in the same period.
Since the year began, DOGE has gained 3472.93%.
Why Is It Moving? DOGE moved in tandem with large cryptocurrencies that mostly traded flat at press time; the global cryptocurrency market cap rose 0.39% to $1.39 trillion at press time.
DOGE didn’t see high interest on Twitter at press time and was mentioned in 1,493 tweets, as per Cointrendz data.
The highest interest was seen in BTC, which was mentioned in 5,238 tweets.
On the BTC side, Ballet Crypto founder and CEO Bobby Lee said this week he was “very bullish on Bitcoin,” especially for an end-of-year rally.
Lukas Enzersdorfer-Konrad, chief product officer at Bitpanda said that the price drop in BTC was significant as a result of China’s latest crackdown but “long-term on-chain data remains firmly positive, potentially indicating that this might be a buy-the-dip opportunity once Bitcoin’s price finds support.”
As for DOGE, Yaron Schwarcz, co-founder of robotics firm Skyline Robotics said in an exclusive interview with Benzinga that he expects the meme cryptocurrency to hit the $0.40 level by end of the year due to a bullish run-up post September’s bear market.
Meanwhile, DOGE millionaire Glauber Contessoto said he is “holding” every single coin that he has purchased so far.
Contessoto said he is “still holding every single one of [his] dogecoin.”
On Thursday, DOGE co-founder Billy Markus advocated for the completion of the DOGE-ETH bridge and said that enabling non fungible token purchases would greatly increase his co-created cryptocurrency’s utility.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
See Also: How To Buy Dogecoin (DOGE)