Why is Dogecoin soaring today?

We analyze where the meme cryptocurrency is going and why it’s trending up today

observed movement
In your 2, the 7-day tracking Shiba-themed cryptocurrency went 38.2%.

DOGE trades up 5.57% and 4.02% against Bitcoin, respectively

and Ethereum

respectively.

The memecoin has surged 4,608.39% since the beginning of the year. Among the coins tracked by CoinMarketCap, DOGE is the fourth-best performer.

Why move?
DOGE rose in tandem with other major cryptocurrencies, with the global coin market cap rising 3.75% to $1.91 trillion in the latest revision.

DOGE was the third-most-mentioned cryptocurrency on Twitter Inc’s platform Wednesday morning.

lagging behind BTC and ETH.

Likewise, according to Stocktwits data, the meme cryptocurrency has also generated a lot of investor interest on social media.

CEO of Coinbase Global Inc. Coins

, Brian Armstrong noted during the company’s second-quarter earnings call on Tuesday that the platform’s selection of crypto winners was “agnostic” when referring to DOGE’s ratings for the quarter.

Meanwhile, cryptocurrency co-founder Billy Markus said an upgrade plan that would have lowered DOGE transaction fees will be delayed.

According to Benzinga’s Melanie Schaffer, Dogecoin is “falling into” a bullish mode.

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