$DOGS recently hit $0.0011, climbing 16.5% from its weekly low, though still lagging 33% behind its all-time high.
What makes this spike stand out is that it comes at a time when the broader crypto market is struggling. Bitcoin slipped below $54,000 for the first time in a month, and Solana tumbled under $130. The total market cap for cryptocurrencies fell to $1.92 billion, and the fear and greed index dipped into the “fear” zone at 30.
$DOGS saw a surge in trading activity, with futures open interest climbing to $124 million, its highest since Sep. 3. Spot market volume also spiked, hitting $541 million, a record since Aug. 31.
The rally can be attributed to Binance's ongoing Carnival, offering participants 40 million DOGS and 5 million NOT tokens for trading and futures activity. The event runs until Sep. 17, creating a buzz around $DOGS and pushing demand higher.
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