Dogecoin Rises 14% As Bitcoin ATM Operator Adds DOGE To Kiosks
Despite the fact that the crypto market as a whole is recovering, few assets have risen as quickly as Dogecoin.
DOGE has surged about 14 percent in the last 24 hours, reaching highs of $0.14 per coin, according to CoinMarketCap data.
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.
Bitcoin ATMs accept Dogecoin
The revelation that Bitcoin of America, a famous crypto ATM provider in the United States, has added Dogecoin to its list of accessible assets looks to be the key impetus behind the recent rally.
Users can purchase and sell DOGE, as well as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) at the kiosks (LTC).
Crypto ATMs work similarly to typical cash machines, except that for a fee, users can exchange cash for cryptocurrency and vice versa. These costs are high when compared to crypto exchanges, ranging from 6% to 20%.
According to Coin ATM Radar, the average buy cost at ATMs in the United States is a stunning 11%.
There are currently 1,814 Bitcoin of American-branded kiosks throughout the United States, according to Coin ATM Finder, a website that tracks the location of various crypto ATMs around the world.
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.
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