Why is Dogecoin moving higher today? – Dogecoin – US dollars ($ DOGE)

Dogecoin (CRYPTO: DOGE) was trading 3.37% higher for 24 hours early Thursday morning.

What is moving: DOGE is up 5.96% in the past seven days.

DOGE rose 2.32% versus Bitcoin and fell 4.06% versus Ethereum in 24 hours.

Since the start of the year, DOGE is up 4321.72%, with the cryptocurrency increasing 30.55% in the last 90 days alone.

The Shiba Inu-themed coin hit an all-time high of $ 0.74 in May and is trading 65.87% below that level at press time.

See also: How to Buy Dogecoin (DOGE)

Why does it move: DOGE moved alongside other major cryptocurrencies on Thursday as the global cryptocurrency market cap rose 3.55% to $ 2.62 trillion.

The meme coin did not generate much interest on Twitter at the time of going to press. It was mentioned in 2,222 tweets. The most common coins Bitcoin and Ethereum were mentioned in 16,957 and 6,452 tweets, respectively.

Analysts expect Bitcoin to continue rising, with a study suggesting a possible surge to the $ 71,400 mark by the end of the year. The resulting euphoria has also carried over to other altcoins such as Ethereum.

It should be noted that the most recent rally of BTC by the start of the ProShares Bitcoin Strategy ETF (NYSE: BITO).

Dogecoin continues to climb alongside Ethereum and Bitcoin, as noted Tyler Bundy of Benzinga, who noted that if DOGE were to hold above the $ 0.45 level for a period, it could potentially create a new high of its own.

Meanwhile Dogecoin bull and Tesla Inc (NASDAQ: TSLA) CEO Elon Musk posted a meme on Wednesday teasing Bitcoin at the $ 69,000 mark.

Read Next: Why is Ethereum Classic (ETC) shooting higher today?

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