Though the wider crypto market is enjoying a bullish recovery, few assets have risen as sharply as Dogecoin.
According to data pulled from CoinMarketCap, DOGE has risen nearly 14% over the past 24 hours, hitting highs of $0.14 per coin.
Over the past week, the cryptocurrency has risen nearly 20%, up from $0.117 to its current price of $0.139. However, Dogecoin is still more than 80% down from its all-time high of $0.73 set back in May last year.
Dogecoin on Bitcoin ATMs
The primary driver behind the latest run-up appears to be news that Bitcoin of America, a popular crypto ATM operator in the United States, has added Dogecoin to its list of available assets.
As well as DOGE, the kiosks let users buy and sell Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
Crypto ATMs operate similarly to traditional cash points, except that users can swap cash for crypto and vice versa for a fee. These fees are expensive compared to crypto exchanges, ranging from 6% all the way up to 20%.
Coin ATM Radar puts the average buy fee at ATMs in the United States at a whopping 11%.
According to Coin ATM Finder, a site that tracks the location of various crypto ATMs around the world, there are currently 1,814 Bitcoin of American-branded kiosks in the United States.
Dogecoin’s bullish price action appears to have been mirrored by its rival meme coin Shiba Inu (SHIB), another popular dog-themed cryptocurrency.
SHIB is currently up an even 5%, according to CoinMarketCap. But at just $0.000024 a coin, the token is closer to zero than a penny.
Still, Shiba Inu made headline after headline last October after reaching an all-time high of $0.000088 and making at least one of the community’s large holders a millionaire.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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