Meme Coin on Investors’ Radar Jumped 13% in 24 Hours: Here’s the Reason for the Rise

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dogecoin (DOGE) is up 13% in the last 24 hours, showing that crypto investors are taking riskier bets in response to Bitcoin (BTC)’s price performance. DOGE, which rose from $0.0675 to $0.075 in today’s trading, rose from a low of $0.058 on October 19 and spent seven of eight days in the green. To Kaiko, who pointed out the price increase in X according to“most markets continue to rise amid ETF frenzy.”

Since the beginning of the week, spot Bitcoin exchange-traded fund (ETFHopes for ) increased Bitcoin prices. In this context, most altcoins, including Dogecoin, benefited from this increase.

Meanwhile, the increase in Dogecoin prices has traditionally Bitcoin and marks a local top for other major tokens. Therefore, traders are keeping an eye on the Bitcoin price, which is down 0.09% in the last 24 hours as Dogecoin continues its gains.

Koinfinans.com As we reported, at the time of writing this news, DOGE increased by 12.69% to $ 0.074 in the last 24 hours. Meme coin increased by 27.14% in the last seven days. On Thursday, DOGE’s price rose amid an exciting announcement from social media site X, formerly Twitter, offering a video calling option for premium users.

This was to be expected as several traders had previously expected X to add DOGE as a payment option. As a result of its price rally, DOGE has broken through key barriers that have been hindering its price for months, most notably the daily moving average MA 50 barrier at $0.061 and the MA 200 barrier at $0.069. If the rally continues, DOGE could next hit $0.083. On the other hand, if the rally stalls, Dogecoin could aim to turn the MA 200 level into support at $0.069.

Meanwhile, DOGE’s development continues. Dogecoin enthusiast Mishaboar, Dogecoin Core v. He noted that work on the next minor version of 1.14.7 is ongoing.

Earlier in October, DOGE core developer Michi Lumin mentioned that some progress was being made on moves to distribute RadioDoge within the community.


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