Despite the recent market downturn, Dogecoin (DOGE) has bucked the trend and seen its price rise. Here are a few reasons why:
X Payments Speculation
Rumors are swirling that X (formerly Twitter) will soon accept DOGE payments. This has sparked excitement and increased demand for the meme coin.
Arthur Hayes’ Support
BitMex founder Arthur Hayes has expressed his support for Dogecoin, revealing that he has recently purchased some. Hayes believes that the current market downturn is a good time to buy “shitcoins” like DOGE.
Influencer Influence
Hayes’ support, combined with the X payment speculation, has boosted Dogecoin’s price. While other cryptocurrencies like Bitcoin have struggled, DOGE has rallied over 3% and found support above $0.2.
