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Dogecoin On The Road To Recovery

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With Dogecoin jumping 5% in the last 24 hours, its holders have another reason to celebrate this holiday season.

DOGE is currently trading at over $0.07 and boasts a market capitalization of $10.7 billion, making it the eighth largest cryptocurrency in the market. In ninth and tenth place, respectively, are Cardano (ADA) and Decrypt’s project of the year, Polygon (MATIC).

The slight uptick comes quickly on the heels of a new exchange listing for Dogecoin; Bitstamp announced yesterday that it will list the coin even against the US dollar and the Euro. Today’s move, comes after a month for Dogecoin, according to CoinGecko. On November 23, DOGE was trading at around $0.08 before climbing as high as $0.10 on December 5. Since then, however, it has seen a gradual decline.

The main reason for Dogecoin’s downfall is because of Dogecoin Ambassador and Twitter CEO Elon Musk’s followers polling whether he will leave his job in the social media giant. More than 50% of the pollsters voted in favor of his resignation, seeming to quelling any continued speculation that the tech billionaire will implement cryptocurrency on the platform.

Soon after Musk struck a deal to acquire Twitter for $44 billion, he registered the company as a payment business and hinted at the possible implementation of some kind of railway cryptocurrency payment card for care human media platform. Full details of such a move are scarce, but that hasn’t stopped the Doge Army from spreading the rumor mill.

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