Why Is Dogecoin Extending Gains Today?

Dogecoin (CRYPTO: DOGE-X) traded above the 30 cent mark in the early hours of Thursday.

Why Is Dogecoin Extending Gains Today?

What’s Moving? The Shiba Inu-themed cryptocurrency traded 8.40% higher at $0.30 at press time and is up 9.32% over a seven-day period.

DOGE rose 3.09% and 1.76% against Bitcoin (CRYPTO: BITCOMP) and Ethereum (CRYPTO: ETH-X), respectively, over 24 hours.

Since 2021 began, DOGE has shot up 5,197.03%. 

DOGE was among the 10 most mentioned cryptocurrencies on Twitter at press time, as per Cointrendz data.

A number of popular technical analysts, like KaleoThe Crypto Dog, and Pentoshi see further upside to DOGE as it crossed the 30 cent barrier.

Kaleo wrote, “Don’t fade the $DOGE breakout,” while the Crypto Dog noted that the coin appeared to be breaking out. Pentoshi concurred in a separate tweet.

Meanwhile, a video sponsored by Coinbase Global Inc. (COIN) and posted by popular YouTuber “Mr. Beast” made mention of DOGE and earned more than 17 million views.  

As per fellow YouTuber Matt Wallace, Coinbase could reach out to more influencers. “Coinbase is going to include Dogecoin in those videos,” said Wallace based on Mr. Beast’s mention of the three most popular coins offered by Coinbase, which included BTC, ETH and DOGE.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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