Dogecoin Jumps Up to 10% on New Twitter and Elon Musk News
The price of the meme Dogecoin (DOGE) cryptocurrency went from $0.084 to $0.092 between Monday, January 30, and Tuesday, January 31.
The price of Dogecoin (DOGE), the meme cryptocurrency, has returned to give a prominent movement in the market. It is the most winning of the last 24 hours, with more than a 7% increase in that period.
The cryptocurrency has risen to 10% between Monday, January 30, and Tuesday, January 31, if we consider its lowest point and the current price. Right now, DOGE is trading around $0.091 after hitting a low of $0.084 during Monday’s trading, according to CoinMarketCap data.
Dogecoin reached its peak this year a few hours ago after briefly passing $0.095 per unit. At the time of writing this article, its market price is 0.091, as discussed above.
The rise in cryptocurrency price comes after Elon Musk, CEO of Twitter, spoke again about the future of payments on the social network. However, he did not announce what cryptocurrency fans expected.
According to the Financial Times, Musk explained that the company would initially develop a payment system with fiat money. But such a system would be configured so that cryptocurrencies could be incorporated in the future.
The latter has given hope to those hoping to see Dogecoin, a cryptocurrency widely supported by Musk historically, as the currency of exchange on the social network.
In the last 24 hours, DOGE’s trading volume on exchanges doubled, with an increase of 134%. During that period, traders have moved more than $1.3 billion worth of Dogecoin across the various exchanges.
It is not the first time that the possibility of seeing DOGE as a Twitter currency triggers its price. As we have previously reported in CriptoNoticias, this is a long-standing rumor that has already affected its price in the past.
