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Why Dogecoin Is Up 20%

Adrian Zmudzinski
·1-min read

Meme cryptocurrency Dogecoin (CRYPTO: DOGE) is seeing major upwards movement in line with a rise in Bitcoin and as Tesla Inc (NASDAQ: TSLA) Elon Musk has again chimed in.

Dogecoin has seen its price rise this weekend as Bitcoin (CRYPTO: BTC) again approached all-time-high levels and Musk suggested that it would be "going to the moon very soon" in a recent tweet.

Dogecoin reached a high of $0.078 after a 20% increase from its 24-hour low of $0.0625. The coin is currently priced at $0.071, up 1,379% from this year's low of $0.0048 reported in January.

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Like any other altcoin, Dogecoin is operating on the tracks set by Bitcoin and its movement.

As Benzinga reported earlier today, the world's first cryptocurrency approached its all-time high price of over $60,000 amid talk of a supply shortage.

See Also: How to Buy Dogecoin (DOGE)

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