Why is Dogecoin price up today?
DOGE's price surge is driven by increased whale accumulation, X payment platform's license approvals, and heightened interest in the derivatives market.
On March 28, Dogecoin (DOGE) price soared 13.35% to reach $0.21, its highest level since January 2022. In doing so, the memecoin has outperformed most of its top-ranking rivals, including Bitcoin (BTC) and Ether (ETH), on a 24-hour performance metric.
Let's discuss the main factors driving the Dogecoin price upward today.
Dogecoin's gains are part of an overall recovery trend that has seen its price rebound 79.5% from its local low of $0.122 established on March 20. And it appears Elon Musk has been one of the main factors behind the sharp rise.
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