Why Is Dogecoin Moving Today?

Dogecoin (CRYPTO: DOGE) traded 3.62% lower at $0.32 over 24 hours in the early hours of Tuesday.

What’s Moving? The cryptocurrency was trading 27.24% higher on a seven-day trailing basis at press time.

DOGE rose 0.12% and 0.7% against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) over 24 hours.

Since the year began, DOGE has shot up an impressive 5,620.34%.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? The decline in DOGE comes in tandem with other major cryptocurrencies like BTC, ETH, and Cardano (CRYPTO: ADA), which were all in the red at press time.

See Also: Why Is Shiba Inu Bucking The Trend, Outperforming Bitcoin, Dogecoin Today?

DOGE traded on Twitter Inc’s (NYSE: TWTR) social media platform at press time, as per data from Cointrendz.

On Monday, on-chain data analysis company Chainalysis said that DOGE is attracting new investors at a level not seen since the late-2017 bull market.

Chainalysis Chief Economist  Philip Gradwell said 37 billion DOGE is owned by just 31 investors. “That is over 1 billion Doge each on average,” he said.

“Shark Tank” host and Dallas Mavericks owner Mark Cuban also revealed Monday that he owned about 1,470 DOGE. The revelation caused some to make fun of the billionaire.

Meanwhile, DOGE co-creator Billy Markus has put on sale a non fungible token or NFT version of his “10 commandments” for the meme coin’s community, which he wrote in 2014.

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