Dogecoin (CRYPTO: DOGE) traded 6% higher at $0.14 over 24 hours leading up to Monday morning.
DOGE surged even as other major coins traded deep in the red with the global cryptocurrency market down 2.9% to $1.8 trillion.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 6% |
| 24-hour against Bitcoin | 8.19% |
| 24-hour against Ethereum | 8.9% |
| 7-day | 3.45% |
| 30-day | 6.2% |
|
YTD performance |
-18.5% |
See Also: How To Get Free Crypto
The Doge Factors
- The spike in Dogecoin was observed following reports that said an agreement for the sale of Twitter Inc. (NYSE:TWTR) to Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk could be reached today.
- DOGE was among the most mentioned coins on Twitter. The three most mentioned coins were Bitcoin, XRP, and Ethereum.
- The 24-hour trading volume for DOGE rose 393% to $1.68 billion at press time, according to data from CoinMarketCap.
- Data from Coinglass showed that $10.18 million worth of DOGE futures were liquidated in the preceding 24 hours as the meme cryptocurrency saw volatility.
Apex Coin Must Hold This Level
Cryptocurrency trader Michaël van de Poppe said Sunday on Twitter that he was in favor “the market goes up next week.” However, he said it is crucial that Bitcoin holds the $38,000 to $39,000 region.
Doge Looks Awful
Another cryptocurrency trader Justin Bennett said that Dogecoin “looks awful.” Pointing to the memecoin’s chart on Sunday, he said that 0.11 is the first stop if DOGE fails to hold on to the 0.133 level on a daily closing basis.
$DOGE looks awful.
— Justin Bennett (@JustinBennettFX) April 24, 2022
0.11 is the first stop if it losses 0.133 on a daily closing basis. #Dogecoin pic.twitter.com/9JdgWAj2dm
No Need For Ethereum Bridge, Says Musk
On Sunday, Dogecoin co-creator Billy Markus laid out three steps to add utility to the cryptocurrency — wider adoption by the business community, making DOGE an option for tips, and bridging DOGE with Ethereum. Musk tweeted that the last step isn’t needed.
DOGE On The Web
Markus said on Sunday that if Dogecoin was a man he would be the actor Idris Elba, best known for his work in the TV series “The Wire and Luther.”
if dogecoin was a man he would be @idriselba
— Shibetoshi Nakamoto (@BillyM2k) April 25, 2022
Read Next: Elon Musk's Purchase Of Twitter Could Be Finalized This Week: WSJ
