Dogecoin (CCC:DOGE-USD) is on the rise Monday and there’s a lot of news for traders to take in today.
The rise in Dogecoin today likely has to do with news of Bitcoin (CCC:BTC-USD) heading higher. When one crypto rises, others typically do as well in symphony with it. That appears to be what’s happening today.
So what has BTC jumping higher today? There’s talk that Amazon (NASDAQ:AMZN) is preparing to accept cryptocurrencies as forms of payment. If true, BTC, alongside Ethereum (CCC:ETH-USD), would likely be accepted by the platform. However, it’s unclear if DOGE would make the cut.
Even so, there are a couple of other factors that could be playing into the increasing price of DOGE. For example, Elon Musk has sent out yet another Tweet in support of the meme crypto. You can see it below.
And finally pic.twitter.com/TcgwMSyjAy
— Elon Musk (@elonmusk) July 25, 2021
Million Doge Disco is also making headlines. This is a new Pokemon Go-styled game that rewards players with NFTs. What’s worth pointing out is that these NFTs contain DOGE in them. The game has up to 1 million DOGE that it’s giving away to players. Also of this is leading up to World Peace Day three months from now.
Another highlight for DOGE was the Bitcoin conference last week. This saw major names in the tech and investing industry, including Musk, stand behind crypto and detail plans for it. There were also revelations of ownership by big companies. That was an overall positive moment for crypto last week.
DOGe was up 13.9% over a 24-hour period as of Monday afternoon.
There’s still plenty of other crypto news that investors will want to know about below!
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More Crypto News for Monday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.