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Dogecoin (CRYPTO: DOGE) traded 2.05% higher at $ 0.245 on the 24 hour early Thursday morning.
What is moving? The coin itself declined 3.78% over a seven-day period.
See also: How to buy Dogecoin (DOGE)
Versus Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), DOGE traded 0.66% and 4.69% lower respectively.
Since the start of the year, DOGE has climbed an impressive 4,218.28%.
Why is it moving? DOGE accompanied the major coins on Thursday as the global cryptocurrency market cap rose 3.39% to $ 2.20 trillion.
See also: Bitcoin promoter and President of El Salvador Nayib Bukele is on Time’s 100 most influential people list, alongside Ethereum’s Vitalik Buterin, but not for the right reasons
DOGE received moderate interest on Twitter at the time of publication. The cryptocurrency was mentioned in tweets for $ 1,248, according to data from Cointrendz.
The coins that generated the most interest were BTC, ETH and Cardano (CRYPTO: ADA), which were mentioned in 6,005, 3,601 and 2,822 tweets, respectively.
According to Cryptoquant, a chain analysis company, a low stable supply ratio, or SSR, is an indicator that stablecoins have more buying power against BTC. The company noted that SSR is now on the rise, which means Bitcoin could see a further positive price movement.
On the DOGE side, the analysis suggests that the Shiba Inu-themed play may also be about to take off.
On Wednesday, FXStreet said DOGE had consolidated above the $ 0.23 support level and was now ready for “a massive rally.”
The analysis indicates that before the DOGE skyrockets, investors can expect a further pullback.
Meanwhile, a battle has erupted over the Dogecoin brand with the Colorado-based company. Dogecoin Foundation among half a dozen others who have filed a claim with the US Patent and Trademark Office over the brand name.
Other contenders include Moon Rabbit AngoZaibatsu LLC, a Cook Islands-based company whose founder Angel Versetti created a new “dogecoin” on his company’s blockchain network.
Read more : EXCLUSIVE: Dogecoin Creator Talks Foundation Revival, “Trademark Trolling”, added value by Vitalik Buterin and Elon Musk Help
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