This week, Dogecoin’s value has been rapidly increasing as Bitcoin approaches $104,000, with Ethereum showing even greater gains. Currently, Dogecoin has risen by 9% today and 27% over the past seven days, marking its peak in two months. The renewed strength of Bitcoin beyond the $100,000 mark seems to be boosting overall market optimism.
Bitcoin is currently valued at $103,700, which represents a decline of only 5% from its peak price of $108,786. In contrast, Ethereum has seen an impressive surge of 32% over the last week and is now trading at $2,409. As for Dogecoin, its current status remains unchanged in this information.
reached its peak price for several months
Early Saturday, almost reaching $0.23 as part of the wider cryptocurrency market recovery.
This represents the peak price for Dogecoin since March 2.
Dogecoin reaches two-month peak
Moreover, the open interest in Dogecoin futures has climbed to its highest level.
highest level since
In mid-February, currently standing at $2.52 billion.
Even with recent progress, both the Dogecoin price and open interest still stand significantly lower than their historical highs. Dogecoin reached an all-time peak of $0.73 back in 2021, whereas open interest hit its zenith at $5.5 billion in January. When contrasted with this, other
meme coins
Like Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) have also demonstrated considerable growth this week, with MOODENG’s value almost tripling.
The revival of the cryptocurrency market has coincided with substantial liquidations, where short sellers have incurred the largest losses. Ethereum has played a key role in these liquidation events, highlighting the overall trend.
market sentiment
As the market keeps climbing,
Traders are closely monitoring Bitcoin’s
moves, leading many to speculate if it will surpass its former record high.
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Dogecoin rises as Bitcoin approaches $104,000
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