Here's Why Dogecoin Is Up 12%

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Here's Why Dogecoin Is Up 12%
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ICYMI: Dogecoin climbs to 12th place by market cap, surpassing Binance USD DOGE $DOGE DOGEArmy

, the most prominent Bitcoin parody, has spiked more than 12% over the last 24 hours, according to CoinMarketCap data.

Earlier today, the cryptocurrency reached an intraday peak of $0.1384 on the Binance exchange, adding 14% over the past three days.Because of the price increase, Dogecoin managed to climb to 12th place by market cap, surpassing the Binance USD stablecoin. The joke Bitcoin parody is now valued at $18 billion, but it is still far from its record valuation of more than $90 billion that was recorded last May.

The most recent spike comes after virtual currency exchange Bitcoin of America made Dogecoin available at its cryptocurrency ATM machines across the U.S. The company enabled support for Ethereum, the second-largest cryptocurrency, last October. It also allows customers to buy and sell Litecoin.

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