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Why Is Dogecoin Extending Gains Today?

Dogecoin (CRYPTO: DOGE) traded above the 30 cent mark in the early hours of Thursday. What’s Moving? The Shiba Inu-themed cryptocurrency traded 8.40% higher at $0.30 at press time and is up 9.32% over a seven-day period.

Benzinga · 09/02/2021 03:49

Dogecoin (CRYPTO: DOGE) traded above the 30 cent mark in the early hours of Thursday.

What’s Moving? The Shiba Inu-themed cryptocurrency traded 8.40% higher at $0.30 at press time and is up 9.32% over a seven-day period.

See Also: How To Buy Dogecoin (DOGE)

DOGE rose 3.09% and 1.76% against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), respectively, over 24 hours.

Since 2021 began, DOGE has shot up 5,197.03%. 

Why Is It Moving? DOGE moved in tandem with other major coins on Thursday as the global cryptocurrency market cap rose 5.38% to $2.23 trillion.

See Also: Why Is Bitcoin Shooting Up Today?

DOGE was among the 10 most mentioned cryptocurrencies on Twitter at press time, as per Cointrendz data.

A number of popular technical analysts, like Kaleo, The Crypto Dog, and Pentoshi see further upside to DOGE as it crossed the 30 cent barrier.

Kaleo wrote, “Don’t fade the $DOGE breakout,” while the Crypto Dog noted that the coin appeared to be breaking out. Pentoshi concurred in a separate tweet.

Meanwhile, a video sponsored by Coinbase Global Inc (NASDAQ:COIN) and posted by popular YouTuber “Mr. Beast” made mention of DOGE and earned more than 17 million views.  
As per fellow YouTuber Matt Wallace, Coinbase could reach out to more influencers. “Coinbase is going to include Dogecoin in those videos,” said Wallace based on Mr. Beast’s mention of the three most popular coins offered by Coinbase, which included BTC, ETH and DOGE.

Read Next: Ethereum Shoots For The Sky; Dogecoin, Bitcoin Follow Amid A Broader Crypto Rally