$DOGE has seen significant activity recently. It surged 18% to reach $0.22, marking its highest level since November 2021. This increase is part of a broader rally in the cryptocurrency market, driven by strong demand for recently launched spot $BTC ETFs and anticipation of the upcoming Bitcoin halving event.
Additionally, there's substantial interest in $DOGE futures, with over $600 million locked in open positions as the meme coin hits an 8-month high. The surge in bullish bets is partly fueled by speculation around potential use cases for Dogecoin, such as being used for payments on platforms like Twitter .
Despite the volatility, Dogecoin's market valuation now exceeds $31 billion, surpassing Deutsche Bank's market cap, and it remains the eighth-largest cryptocurrency by market value.
