In brief
- Dogecoin is up 9% on the day and 27% this week, reaching its highest price in two months.
- Bitcoin’s surge back above $100K may be fueling broader rising market sentiment.
- BTC is just 5% down from its all-time high mark, while ETH is this week’s biggest gainer among top coins.
Dogecoin hit its highest price in months early Saturday, nearly touching $0.23 as the broader crypto market rebounds—and Bitcoin sits mere percentage points away from its own current all-time high.
Over the last week, DOGE has jumped nearly 27% to a current price of $0.225, including an 9% rise in the last day alone. Saturday’s earlier price peak is the highest recorded for Dogecoin since March 2, per data from CoinGecko.
Along with price gains, open interest on Dogecoin is up to its highest level since mid-February, per CoinGlass, currently sitting at $2.52 billion. Open interest measures the total value of futures contracts that are not yet settled.
Of course, both marks are well below their respective peaks: Dogecoin topped out at $0.73 back in 2021 and hasn’t come close since, only getting as high as $0.48 in recent months, back in December. And DOGE open interest peaked at $5.5 billion this January, but had fallen as low as $1.3 billion in recent weeks as the price dipped.
As Decrypt reported Friday, Dogecoin isn’t the only meme coin to put up sizable gains this week. In fact, last year’s viral meme coins like Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) are up much more in the same span, with MOODENG nearly tripling in price this week.
Among the highest-value cryptocurrencies, DOGE is only second to Ethereum in weekly gains, with ETH putting up a massive 32% rise over the last seven days, fueled by the successful Pectra network upgrade and broader market sentiment swings. ETH sits at $2,409 as of this writing.
Bitcoin remains a key focus for traders, of course, with the leading cryptocurrency by market cap retaking a $100,000 price earlier this week and nearing touching $104,000 on Friday. As of this writing, Bitcoin is priced at $103,700—down a mere 5% from its all-time high mark of $108,786 set back in January on President Trump’s inauguration day.
Daily crypto market liquidations topped $1.1 billion as of Friday morning, thanks to the market upswing, with Ethereum responsible for most of the damage—and short traders feeling the most pain.
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