Dogecoin (DOGE/USD) has seen strong gains of 16.3% over the last week, reaching the $0.091 mark. These movements are being driven by the wider sentiment in the crypto market, sparked by the impressive investments made in Bitcoin. MicroStrategy’s acquisition of 16,130 Bitcoins for$608 million saw the leading cryptocurrency break through the $40,000 mark and further bolstered investor confidence in the sector.
With MicroStrategy now in possession of 174,530 coins, averaging a value of $30,252 per BTC, the demand for other altcoins has been consistent and Dogecoin has managed to benefit. Furthermore the announcement from the SEC welcoming public compliments regarding proposed rules changes towards Ether ETFs has further improved investor optimism, driving prices hand in hand.
Ultimately, increased positive publicity towards various digital assets has served to strengthen faith in cryptocurrencies and That investor demand paired with increasing accessibility and investment options has contributed to the amended of DOGE/USD.
