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Why is Dogecoin up by 12%?

According to CoinMarketCap data, the price of Dogecoin, the most popular Bitcoin parody, has increased by more than 12% in the last 24 hours.

On the Binance platform earlier today, the cryptocurrency hit an intraday high of $0.1384, up 14 percent in the last three days.

Due to the price gain, Dogecoin has risen to 12th place in terms of market capitalization, surpassing the Binance USD (BUSD) stablecoin. The joking Bitcoin imitation is now worth $18 billion. But, it’s still a long way off from its all-time high of more nearly $90 billion set in May.

The most recent surge occurred after virtual currency exchange Bitcoin of America began accepting Dogecoin at its cryptocurrency ATMs across the United States.

Last October, the company added support for Ethereum, the second-largest cryptocurrency. Customers can also purchase and sell Litecoin on the platform.

In 312 states, Bitcoin of America has 1800 cryptocurrency ATMs. Its universal kiosk allows users to buy cryptocurrencies with cash. That’s, after withdrawing money from a debit card or sell cryptocurrency for cash.

The addition of Dogecoin will almost certainly improve the largest meme coin’s mainstream appeal.

On Wednesday, Voyager, a commission-free cryptocurrency trading software, launched Dogecoin support, allowing consumers to trade and receive the funny money.

Because of National Puppy Day on Wednesday, Dogecoin received some extra attention. Of course, with Binance and other corporations teasing the communities behind the most popular canine parody coins.

Coleen Paige, an animal behaviorist, was the first to recognize National Puppy Day as an official holiday. Its mission is to raise public awareness about puppy mills.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.