Why Is Dogecoin (DOGE) Up 5% Today?

[ad_1] <div> <div id="1897302" style="width: 1610px" class="wp-caption aligncenter"> <img src="https://investorplace.com/wp-content/uploads/2021/04/doge1600.jpg" class="aligncenter wp-image-1897302 size-full" title="DOGE-USD, Dogecoin Cryptocurrency" alt="DOGE-USD, Dogecoin Cryptocurrency" width="1600" height="900"/><noscript><img class="aligncenter wp-image-1897302 size-full" title="DOGE-USD, Dogecoin Cryptocurrency" src="https://investorplace.com/wp-content/uploads/2021/04/doge1600.jpg" alt="DOGE-USD, Dogecoin Cryptocurrency" width="1600" height="900"/></noscript> Supply: Orpheus FX / Shutterstock.com </div> Dogecoin (<a target="_blank" href="https://investorplace.com/cryptocurrency/doge-usd/" rel="noopener">DOGE-USD</a>) is gaining on Wednesday and it’s because of Elon Musk <a target="_blank" href="https://twitter.com/elonmusk/status/1625695877326340102?s=20&t=KTWgPaXR0MS1i4m1G3aNQw" rel="nofollow noopener">posting more memes</a> related to the cryptocurrency. Elon Musk’s newest set of tweets has him sharing photos of a Shiba Inu, the identical canine breed that serves because the mascot of Dogecoin, <a target="_blank" href="https://twitter.com/elonmusk/status/1625696554467344384" rel="nofollow noopener">as CEO</a> of Twitter. It’s no shock this has DOGE rising, because the crypto usually will get a lift from Musk <a target="_blank" href="https://twitter.com/elonmusk/status/1625696836886614018" rel="nofollow noopener">tweeting Shiba Inu memes</a>. What’s fascinating to notice is a number of the finer particulars included within the photos. That features two of the pictures displaying the identify of this Shiba Inu, which is Floki. That’s price mentioning, as there’s one other Shiba Inu-themed crypto, Floki (<a target="_blank" href="https://investorplace.com/cryptocurrency/floki-usd/" rel="noopener">FLOKI-USD</a>), that goes by that very same identify. In fact, followers of Musk received’t be shocked this Shiba Inu is known as Floki. That’s as a result of the canine within the footage is definitely Elon Musk’s actual pet Shiba Inu named Floki. <h2>How This Impacts Dogecoin At present</h2> With these newest memes comes an elevated curiosity in Dogecoin. That resulted in DOGE seeing a 93.3% improve in buying and selling quantity of the prior 24-hour interval. This additionally has the crypto gaining 5.1% as of Wednesday morning over that very same time frame. FLOKI can be getting a lift from the memes immediately with a 59.4% rally during the last 24 hours. That comes with a 623% improve in buying and selling quantity throughout that very same stretch of time. Buyers in search of out extra of the newest market information will wish to hold studying!

InvestorPlace is house to all the hottest market information buyers have to learn about on Wednesday! Amongst that's what has shares of Barrick Gold (NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/gold-stock-quote/" rel="noopener">GOLD</a>), T2 Biosystems (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/ttoo-stock-quote/" rel="noopener">TTOO</a>) and Credo Expertise (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/crdo-stock-quote/" rel="noopener">CRDO</a>) inventory on the transfer. You possibly can learn up on all that information on the hyperlinks beneath! <h2>Extra Wednesday Inventory Market Information</h2>

On the date of publication, William White didn't have (both instantly or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the InvestorPlace.com <a target="_blank" href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" rel="noopener">Publishing Guidelines</a>.

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