Altcoins

3 Reasons Why Dogecoin Is Over 12% Up Today

The favorite meme cryptocurrency of Tesla CEO Elon Musk, Dogecoin, is demonstrating a rise over 12 percent in the past twenty-four hours, according to the data provided by the CoinMarketCap service.

Several reasons are likely to be behind this growth of DOGE that is posted after a period of remaining in decline.

Elon Musk’s recent “Matrix”-related tweet

As reported by U.Today on Sunday, the eccentric centibillionaire posted another meme that mentions Dogecoin. This time, it was based on the popular movie by the Wachowski (back then brothers, and now – sisters) directors that put Keanu Reeves on the list of Hollywood stars and highly paid actors.

In the meme, Morpheus tells Neo that he should forget making a lot of money on DOGE since Dogecoin is already money.

That was not the first time Elon Musk, the fan of memes and Dogecoin, had referred to iconic “The Matrix” movie.

Bitcoin recovers close to the $40,000 line

Earlier today, the largest cryptocurrency by the market cap value, staged a major recovery. Bitcoin rose above the $39,000 level on the Bitstamp exchange – $39,850 is the highest level seen since June this year.

Bitcoin has managed to do that thanks to Amazon preparing to start accepting Bitcoin and a few other top-line cryptos in the near future, according to the data shared by an insider.

Besides, Bitcoin bears were defeated when a massive short squeeze occurred and $929 million worth of short positions was liquidated since Sunday.

Besides, Tesla, Musk and SpaceX are holding on to their Bitcoin holdings tight, according to Elon himself who talked about Bitcoin to Jack Dorsey and Cathie Wood (the CEO of the ARK hedge fund) on Wednesday last week during the B-Word Zoom conference.

Dogecoin, as well as other top ten cryptocurrencies, are going up, following the suit of Bitcoin.

Amazon rumour about Bitcoin, ETH, ADA and BCH

The news of the e-commerce behemoth preparing to accept crypto has had a massive impact on the cryptocommunity.

According to the insider, after integrating Bitcoin payments, the company plans to add Ethereum, Cardano and Bitcoin Cash to its payment options.

Last week, it was also reported that Amazon had published a vacancy, searching for an expert in blockchain and cryptocurrencies.

   

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