Dogecoin (DOGE) Takes Center Stage With 10% Gain

Meme cryptocurrency dogecoin (DOGE) jumped 10% on Tuesday, registering its largest single-day gain since April 3, according to Binance data tracked by charting platform TradingView. The crypto has gained 25% over the past two weeks amid speculation that it could be used as a payment mechanism on the rebranded Twitter platform. “As crypto is entering the summer lull that we initially expected for August, DOGE might be the summer’s highflyer as other crypto themes are taking a backseat,” said Markus Thielen, head of research and strategy at Matrixport “Musk is on a marketing tour in re-inventing Twitter,” he added. Bitcoin (BTC), meanwhile, remained near a one-month low just above $29,000 as investors await the release of the U.S. Federal Reserve policy announcement later today.