- DOGE’s trading volume in the last 24 hours totaled $1.86 billion.
- And liquidations reached the $6.71 million mark.
Dogecoin DOGE
Price:
$0.07781913
6.17%
24h Volume:
$847m
Latest
Dogecoin jumped 12% in a week amid speculation about the coin’s role in a revamped Twitter
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The DOGE exchange rate rose 5.5% over the past 24 hours to cross $0.77. This is evidenced by CoinGecko data:
The trading volume reached $1.86 billion. Notably, most of the volume is done on South Korea’s UpBit exchange paired with the Korean won.
The Coinglass data also shows that $6.71 million worth of traders’ positions were liquidated in 24 hours.
Investors are actively buying the token with hopes that it will become important on Twitter, CoinDesk reported. Analysts believe the social network could start accepting DOGE tokens in the coming months, given that owner Elon Musk appears to be backing the coin.
Kryptomon marketing director Tomer Nunes said:
“There is speculation that advertisers will be able to use DOGE to pay for ads or other services on Twitter. We saw similar actions when Tesla allowed its goods to be paid for with DOGE.”
The speculation that this could happen has merit. In April, Musk mentioned the possibility of payments in DOGE on his Twitter account, offering the cryptocurrency as one of the payment options for Twitter’s Blue service – a subscription to the site’s premium features.
On July 24, Ilon Musk announced a complete rebranding of Twitter. At the time of writing, the platform’s branded logo has been changed to an “X”.
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