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DOGE Continues Confusing Run

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Dogecoin is trading higher early Wednesday, rising 22 cents in the last 24 hours, jumping just over half a percent. While the meme token has fallen nearly 6% over the last 7 days, it actually rose 0.38% against Bitcoin but lost 2.27% to Ethereum. Even so, the coin is just 3876% year-to-date after reaching an all-time high of 74 cents in May. Benzinga’s Melani Schaffer said Tuesday that a price reversal for Dogecoin could be coming, noting that Tuesday’s lower low could benefit the token, saying it might have “printed a bullish double bottom pattern at the level.” Across the market, Elon Musk—a major proponent of Dogecoin—feuded with the CEO of Binance over an error that caused Dogecoins to get stuck in the exchange. Elsewhere, Ripple CEO Brad Garlinghouse said that the “inflationary dynamics” of DOGE would make him “reluctant to hold it.”

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