The meme cryptocurrency Dogecoin (DOGE) has seen a resurgence in price and popularity this week during its 10th birthday celebration. DOGE gained over 10% in 24 hours to exceed $0.10 for the first time since April.
Keypoints
- Dogecoin (DOGE) price has surged over 10% in the past 24 hours to top $0.10, its highest level since April
- More than $600 million is now locked in open DOGE futures contracts, indicating growing investor interest
- DOGE tends to act as a leveraged play on Bitcoin, moving in the same direction but more extremely
- The DOGE/BTC ratio remains near bear market lows, signaling the rally may have room to run
- The cryptocurrency community awaits a birthday message from “Dogefather” Elon Musk that could further boost prices
Investor interest is clearly growing, with more than $600 million now locked in open Dogecoin futures contracts on various exchanges. Traders are using the highly volatile asset to…
