NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Is Elon Musk's Twitter Stake Reveal Leading Dogecoin Higher Today?

Published 05/04/2022, 11:13
Updated 05/04/2022, 12:10
© Reuters.  Is Elon Musk's Twitter Stake Reveal Leading Dogecoin Higher Today?
TWTR
-
BTC/EUR
-
BTC/USD
-
TWTR34
-
BTC/EUR
-
BTC/JPY
-
BTC/USD
-
DOGE/USD
-
BTC/JPY
-
BTC/GBP
-
BTC/GBP
-
DOGE/USD
-
DOGE/EUR
-

Dogecoin (CRYPTO: DOGE) spiked 5.6% to $0.15 over 24 hours leading up to early Tuesday morning.

DOGE shot up at press time while Bitcoin and Ethereum — the top two coins by market cap — saw relatively modest gains. The global cryptocurrency market cap rose 0.45% to $2.2 trillion.

Dogecoin Price Performance Time-frame % Change (+/-)
24-hour 5.6%
24-hour against Bitcoin 4.6%
24-hour against Ethereum 5.3%
7-day 4%
30-day 22.4%
YTD performance

-11.6%
See Also: How To Buy Dogecoin (DOGE)

The Doge Factors DOGE was among the most mentioned coins on Twitter. It attracted 1,855 tweets at press time, according to Cointrendz data. The three most-mentioned coins were XRP, Bitcoin, and Ethereum.

$5.16 million worth of DOGE futures have been liquidated in 24 hours as the meme cryptocurrency soared, according to Coinglass data.

Strong Correlation Persists With Equities Major cryptocurrencies continued to be strongly correlated with equities. This correlation is stronger in the case of Ethereum than the apex coin, according to market data platform Santiment.

DOGE At OZ Convenience Stores Australians will be able to pay with Dogecoin and other cryptocurrencies at the “On The Run (OTR) convenience store chain beginning July. The transactions will be processed via Crypto.com.

Doge Around The Web Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s purchase of a 9.2% stake in Twitter Inc (NASDAQ: NYSE:TWTR) dominated DOGE discussions on Monday.

CNBC host Ran NeuNer said while Twitter found Jack Dorsey owns 2% of the platform, Musk owns 9%. He pointed out that Jack loves Bitcoin, while Musk loves DOGE.

Dogecoin millionaire Glauber Contessoto alluded to the fact that Musk was now among the largest holders of the Twitter stock and tweeted it seems “bullish” with “Doge” as a hashtag

Read Next: Here's How Much Elon Musk Made On His Twitter Bet In A Single Day

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.