The Price Of Dogecoin Surges 17% As Elon Musk Gets Closer To Closing A Deal With Twitter

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Last Updated on October 27, 2022 by Bitfinsider

According to information provided by Coingecko, the price of Dogecoin (DOGE) resumed its upward price action for the second day in a row today, soaring to a new monthly high of $0.08022. Dogecoin is the leading meme coin.

A piece of Dogecoin can now be purchased for approximately $0.077614, which is a 16.7% increase over the course of the previous twenty-four hours. Additionally, trading volumes skyrocketed by 196% during the same time period.

During the past week, the value of DOGE increased by more than 31%, making it the cryptocurrency with the greatest weekly gain among the top 20 cryptocurrencies measured by market capitalization.

The market value of the tenth-largest cryptocurrency, Dogecoin, which is currently at $10.5 billion, is close to overtaking that of Solana and is only a billion dollars away from doing so (SOL).

According to data provided by Coinglass, about $8.69 million worth of dogecoin futures positions were liquidated during the course of the previous twenty-four hours. The majority of Dogecoin liquidations (78.81%) came from short positions that were closed down prematurely.

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