$DOGE has emerged as a new bull market!
In the currency circle, $BTC is undoubtedly the focus of everyone's attention. Its feat of striving to hit the $100,000 milestone is like the exciting moment when a climber is about to reach the top of Mount Everest. Unfortunately, due to the small gap of only $250, this spectacular scene quickly cooled down like a meteor, and the market enthusiasm also declined.
Just when BTC took a short break, DOGE came out like a wild horse. It broke through the $0.48 mark at an astonishing speed. This price level has not been seen for nearly three and a half years, which is amazing.
As a leader in the field of Meme coins, DOGE's upward momentum is unstoppable.
After several days of preparation, DOGE finally successfully crossed the important resistance level of $0.42 yesterday, and the highest price once reached $0.48, which is close to its historical high of $0.73. There are many reasons behind the strong rise of Dogecoin, among which the rising market sentiment, Musk's re-promotion of Meme culture, and the unity and activity of the DOGE community have played a key role.
In addition, investors who shorted Dogecoin suffered nearly $40 million in liquidation losses in just 24 hours, which undoubtedly further promoted the surge in DOGE prices.
However, the Meme coin market is like a colorful garden, with both gorgeous blooming flowers and unknown grass. The rise of Dogecoin has enabled $SHIB, which is also a Meme coin, to rise by more than 7%.
However, not all Meme coins can share this glory. PEPE, FLOKI, PNUT and other currencies have unfortunately become victims of the market, with a decline of more than 7%, forming a distinct "one dominant" pattern.
As for whether DOGE can become the vane of the next bull market, market analysts pointed out that if Dogecoin can successfully stand on the high ground of $0.5, then its subsequent upside may further expand to more than $0.6.
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