Why Is Dogecoin Going Up? eToro Listing Is Followed by Crypto Hitting New High

SectorFinancial Markets
CountryMiddle east

Dogecoin has risen to just over $0.47 over the past 24 hours, on the back of news the cryptocurrency has been added to the eToro trading platform.

The platform announced the news on Monday, stating the popular token had been added due to user demand. An eToro press release read: “You barked and we heard you!”

Dogecoin is currently up almost 24 percent over the past 24 hours to $0.47, down a little from its record high earlier. The token is up around 60 percent over the past week.

By comparison, Bitcoin, the most popular and valuable cryptocurrency, is currently worth $56,120, down just over four percent over the past 24 hours.

Meanwhile, Dogecoin is also being buoyed by anticipation ahead of Elon Musk’s appearance on U.S.

comedy sketch show Saturday Night Live on May 8, according to Benzinga.

The Tesla and SpaceX CEO is known for his support of Dogecoin on Twitter, which often coincides with the token’s price jumping.

Musk has suggested that a...