Dogecoin (DOGE) Up by 5% Following New Twitter News; Here’s Why

Dogecoin Growth Faces Stagnation Amid Decrease in Holder Activity

The price of Dogecoin (DOGE) increased by 5% following the recent news that Twitter would soon allow trading equities and cryptocurrencies.

Twitter will soon enable direct trading of assets like stocks and cryptocurrencies on its platform thanks to a deal with eToro. 

According to CNBC, the functionality will be live on the Twitter app on Thursday, April 14.

Due to the news, the price of the meme coin increased by 5.2% in the last 24 hours. 

After Musk replaced the Twitter logo with the DOGE symbol, Dogecoin staged a good rally. 

Some traders made millions of dollars thanks to the 30% price increase. However, it was abandoned after the rally’s emblem was changed to the original blue bird design.

Related reading: Is Dogecoin Gearing Up for Another Bullish Run After the Last 33% Rise? Check This Out

The most recent increase is a triumphant rally following the Twitter logo change rally. The volume of trading during the day has increased by 41%. 

However, Musk’s embrace of Dogecoin and other meme coins completely altered the perception of these currencies. 

However, DOGE’s price has a way to go before reaching its all-time high.

The live Dogecoin price at the time of writing is $0.086949, with a 24-hour trading volume of $833,451,990.

Read Also: Dogecoin Fall Short of Emulating Bitcoin’s Bullish Surge: Here’s the Reason

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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