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 does not provide investment advice. All rights reserved.

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