Why Is Dogecoin Starting to Recover?

Dogecoin has spent a few weeks in the doldrums, struggling as the global market cap dropped and apex tokens like Bitcoin and Ethereum stumbled. However, Dogecoin might have started something of a comeback. Dogecoin rose over 2% in the past 24 hours, getting back to 17 cents. In the past 7 days, Dogecoin has gained over 8% on more than a 46% increase in trading volume. Additionally, Dogecoin picked up a fraction of a percent on both Bitcoin and Ethereum in that time. The cryptocurrency market is starting to pick up once more, and that rising tide is lifting ships like DOGE. On Monday, DOGE retested at 16.1 cents but was met with dip buyers. Interestingly, Billy Markus, Dogecoin’s co-founder, tweeted an animated map demonstrating that Dogecoin rises with its popularity on Twitter ($TWTR@US) and dominance on Google ($GOOGL@US). At press time, Dogecoin was up nearly 4 and a half % at 17.08 cents.