Dogecoin is leading the broader crypto market with the most gains. The popular meme coin has been up by 4.24% in the last 24 hours compared to Bitcoin and Ethereum, the top two cryptocurrencies which have been down 0.12% and 0.01% respectively. The crypto market cap slipped to a late afternoon low of $756.38 billion and rose to a high of $776.40 billion after finding late support.
DOGE, at the time of writing this article, was trading at $0.07762. The uptrend is attributed to the listing of Dogecoin on Bitstamp. The meme coin is moving toward the crucial $0.08 level which had touched on November 23. It then rose to the high of $0.10 on December 5 before tumbling again. The fall was because of billionaire Elon Musk asking his followers on Twitter whether he should step down from his role at the micro-blogging platform. The Twitter poll saw the hopes of DOGE enthusiasts dashed about the meme coin being designated the title of Twitter’s official cryptocurrency.
Musk registered Twitter as a payments business after acquiring it for $44 billion. This got rumor mills rumbling that there would be some form of cryptocurrency payment for the social media platform. But it only remained speculation.