The Dogecoin Soared by 5%, Surpassing Other Currencies

Dogecoin is leading the broader cryptocurrency market after Elon Musk commented on the idea of changing the twitter logo to a Doge memo.

According to coinmarketcap, the price of dogecoin (Doge) has soared by about 5% in the past 24 hours. During the above-mentioned period, the performance of the commemorative coin exceeded that of all major altcoin.

It is reported that bitcoin’s imitation coin price increased by double digits on Thursday after bitcoin of America, the popular cryptocurrency ATM operator, added dogecoin to the list of available coins. At the same time, Voyager, a trading application, has added support for dogecoin. Earlier today, Tesla CEO Elon Musk commented on the idea of acquiring twitter and changing the bird logo to Doge, saying it would be “sick”.

Bitcoin, the cryptocurrency with the highest market value, is still in a downturn and is currently changing hands at the level of $44500 on major spot exchanges. Bulls have so far failed to gain a foothold above $45000, which has recently been called a “key hub” by senior trader John Bollinger. Ethereum is also struggling to rise again, as the second-largest cryptocurrency is still below $3200.
At the time of writing this report, Shiba Inu, dogecoin ‘s competitor, also performed mediocrely, with an increase of only 0.67%.