Dogecoin (CRYPTO: DOGE) traded 2.05% higher at $ 0.245 during the 24 hours on Thursday morning.
What moves? The meme currency has declined 3.78% in a final seven-day period.
See also: How to buy Dogecoin (DOGE)
Against Bitcoin (CRYPTO: BTC) i Ethereum (CRYPTO: ETH), DOGE traded 0.66% and 4.69% lower, respectively.
Since the start of the year, DOGE has risen an impressive 4218.28%.
Why is it moving? DOGE moved alongside major currencies on Thursday as the global market capitalization of cryptocurrencies rose 3.39% to $ 2.20 trillion.
See also: Bitcoin defender and El Salvador president Nayib Bukele reaches the list of 100 most influential people alongside Ethereum’s Vitalik Buterin, but not for the right reasons
DOGE saw moderate interest on Twitter in the press. The cryptocurrency was mentioned in tweets for $ 1,248, according to Cointrendz data.
The currencies that saw the most interest were BTC, ETH and Cardano (CRYPTO: ADA), mentioned in 6,005, 3,601 and 2,822 tweets, respectively.
According to Cryptoquant, a chain analysis firm, with a low stable supply ratio, or SSR, is an indicator that stablecoins have more purchasing power against BTC. The firm noted that SSR is now booming, meaning Bitcoin could see a new positive price movement.
As for the DOGE, the analysis suggests that the Shiba Inu-themed currency could also be about to take off.
On Wednesday, FXStreet said DOGE was consolidating above the $ 0.23 attendance level and is now “in a massive concentration”.
According to the analysis, before DOGE rises further, investors can expect a further setback.
Meanwhile, a battle has broken out over the Colorado-based trademark Dogecoin Dogecoin Foundation among half a dozen others who have filed a claim with the U.S. Patent and Trademark Office over the trademark.
Other candidates include Moon Rabbit AngoZaibatsu LLC, a company founded in the Cook Islands Angel Versetti created a new “dogecoin” on his company’s blockchain network.
Read below: EXCLUSIVE: Revival of the Dogecoin Creator Talks Foundation, “value-added trolling”, added by Vitalik Buterin and Elon Musk Aide