Introduction
In the last 30 days, digital currencies-based dog-themed projects has gained significant attention, thanks in part to the endorsement of billionaire Elon Musk, who is also a supporter of another dog-themed cryptocurrency, Dogecoin.
After the Twitter owner changed the social media platform icon to the logo of DOGE, it generated widespread curiosity and debate in the cryptocurrency community. This led to a sudden surge in the currency’s value within minutes of the Twitter logo change.
Related Reading: Dogecoin Fall Short of Emulating Bitcoin’s Bullish Surge: Here’s the Reason
Price Analysis
Looking back at the past 30 days, the value of Dogecoin has experienced a significant 20% increase, rising from $0.07642 to its current value of $0.09390.
The value of DOGE is currently at $0.09407 and has seen a rise of 4.28% within the last 24 hours.
Source: @coinmarketcap
Events That Happened During This Period
The weekly market review has also shown positive growth, with a 5% increase likely influenced by the recent report that Twitter will partner with eToro to allow trading of both cryptocurrency and equities on their platform.
Trading experts expect altcoins, including DOGE, to trade in ranges until it’s confirmed that bull season is here.
Based on the information provided on Coinmarketcap, the canine-themed digital currency has experienced an impressive surge in value, with a generally positive sentiment prevailing in the market.
The emotional and psychological factors influencing the cryptocurrency space have been favorable towards Dogecoin and other altcoins.
Conclusion
Although the Twitter icon has been changed back to its original blue bird logo, the value of the popular memecoin digital continued to rise. According to expert analysis, the cryptocurrency community could anticipate a small bullish run for altcoins, with the dog-themed digital currency expected to benefit significantly from this trend.
Related Reading: Shiba Inu to $0.01: Challenges and Possibilities Compared to Dogecoin
