The price of Dogecoin has spiked by 5% after the recent news about Twitter enabling stocks and cryptocurrency trading surfaced.
In a partnership with eToro, Twitter will soon allow its users to engage in direct trading of assets such as stocks and cryptocurrencies on its platform. The feature is set to be launched on the Twitter application on Thursday, April 14, as reported by CNBC.
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Following the news, the price of the meme coin spiked by 5.2% in the last 24 hours. At press time, DOGE was trading at $0.08711, according to CoinMarketCap data.
Dogecoin spikes by 5% after eToro partnership announcement
Dogecoin had put on a decent rally after Musk changed the Twitter logo to that of DOGE. The spike of 30% in price also made some traders millions. However, the rally reversed after the logo was replaced with that of the original blue bird logo.
The recent spike is a positive rally after the Twitter logo change rally. The 24-hour trading volume has also spiked by 41%. However, the outlook of memecoins was entirely changed after Musk started embracing Dogecoin and others. Nevertheless, the price of DOGE still has a long way to go to reach its all-time high.