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Why Dogecoin Was Up by 4% Today

TheMotleyFool

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The bellwether meme cryptocurrency Dogecoin (CRYPTO: DOGE) was on the rise Wednesday, in contrast to the sagging S&P 500 index of stocks. The coin was enjoying a 4% lift as of late this afternoon, a rate that topped the effectively sideways-moving Bitcoin (CRYPTO: BTC) and Ethereum, plus the slight rise of its rival meme token Shiba Inu.

Dogecoin's upward move seems to be tied to its sudden appearance in ATMs. Wednesday morning, privately held fintech company Bitcoin of America announced that the token had been added to its Bitcoin ATMs (or BTMs, as the company likes to abbreviate them).

Image source: Getty Images.

Source Fool.com

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