Dogecoin Sees 125% Increase In Trading On Saturday

Dogecoin Sees 125% Increase In Trading On Sunday

Photo by Dogeloverforever on Wikimedia

The ironic cryptocurrency Dogecoin has taken on a new layer of seriousness today.

What Happened

Dogecoin, as of time of publication, was trading at 0.011 cents, according to TradingView. That's more than a 125% increase for the day and a break past the psychologically significant one-cent mark.

Riding The Crypto Rocket

The rise is in line with the skyrocketing price of Bitcoin (BITCOMP), which today flew past the $33,000 level, the latest in a series of recent high points.

Dogecoin has traditionally been viewed as a parody of the cryptocurrency world. But it nonetheless is a real cryptocurrency and therefore is just as capable of delivering returns as Bitcoin. Dogecoin also recently got a boost after Tesla (TSLA) CEO Elon Musk mentioned it on Twitter, albeit in a non-flattering light.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.