Troubled Bitcoin Market Hedges $156 Million on a Joke Cryptocurrency

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The knock was loud, the breaking of the door, louder. The bulls of the bitcoin market broke into a joke shop, which was lying deserted for the last three months, with $156 million worth of digital money.

In other news, the price of Dogecoin (DOGE) experienced a double-digit percentage gain on Friday to reclaim a nine-month high. The meme cryptocurrency established an intraday high of $0.00499, up more than 60 percent from the market open today. The move upside pushed the Dogecoin market capitalization from $382.74 million to as high as $537.42 million. At its highest, the cap was $1.67 billion.

dogecoin, dogecoin price, bitcoin

The Dogecoin pairs across the cryptocurrency exchanges reported a 24-hour adjusted volume of $143.343 million, data on Messari.io showed. On a “Real 10” scale, a metric that removes fake trading volume, the DOGE-enabled instruments noted a mere $36.724 million worth of trading activity in the previous 24 hours.

Binance Integration, Bitcoin Intraday Weakness

The latest upside push in Dogecoin borrowed bullish sentiments from Binance, the world’s largest cryptocurrency exchange by volume. The Malta-based firm announce

d today that it would open trading for five DOGE pairs on its platform, marking the cryptocurrency’s first foray into the global cryptocurrency platform.

Read the full story on CCN.com.

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