Today’s article we look at how Dogecoin Soars 27% as Bitcoin Closes In on Record High.The cryptocurrency market is surging once again, with meme-favourite Dogecoin leading a pack of digital assets gaining momentum amid renewed investor enthusiasm.
As Bitcoin inches towards a fresh all-time high, the famously whimsical Dogecoin has posted its strongest performance in months.
Dogecoin (DOGE) climbed nearly 9% in the past 24 hours and an impressive 27% over the past week, reaching a high of \$0.23 early Saturday the highest mark since early March, according to market data from CoinGecko.
The move comes as Bitcoin (BTC) itself charges back above the $100,000 threshold, peaking near $104,000 on Friday.
The world’s largest cryptocurrency is now just 5% below its all-time high of $108,786, set during a volatile inauguration week for former US President Donald Trump in January.
DogeCoin Special Market Awakens
Dogecoin’s rally is part of a broader resurgence in the cryptocurrency space, as market sentiment turns optimistic.
Alongside rising prices, open interestthe total value of unsettled futures contracts on Dogecoin has surged to $2.52 billion, its highest since mid-February, per derivatives tracking site CoinGlass.
Yet both figures remain well below Dogecoin’s heyday.
The meme coin famously spiked to $0.73 during the 2021 crypto boom, and its open interest topped $5.5 billion as recently as January this year before a sharp decline.
Interestingly, Dogecoin isn’t the only meme coin enjoying a renaissance. Viral favourites from last year, including Moo Deng (MOODENG) and Peanut the Squirrel (PNUT), have outpaced even Dogecoin’s gains.
MOODENG, for instance, has nearly tripled in value this week, signalling that speculative fervour around light-hearted tokens remains alive and well.
Ethereum’s Turn in the Spotlight
But the real standout this week is Ethereum (ETH). The second-largest cryptocurrency by market cap has outshone its rivals, soaring 32% over the past seven days to trade at $2,409.
After trailing Bitcoin’s performance for much of the past two years, Ethereum’s sudden outperformance has been attributed to a combination of technical upgrades and improving macroeconomic signals.
Analysts cited the successful implementation of the long-anticipated Pectra network upgrade, which boosts the network’s scalability and efficiency, as a catalyst for the bullish sentiment.
“The market is repositioning for Ethereum to retake a leadership role after a long period of underperformance,” said one market strategist. “This upgrade showed both technical progress and resilience, which is exactly what institutional investors have been waiting for.”
Learn about High Stakes and Heavy Liquidations
With the market upswing has come significant volatility. Daily liquidations across crypto derivatives markets topped $1.1 billion by Friday morning, as traders on the wrong side of the price action particularly those betting against Ethereum faced steep losses.
As Bitcoin flirts with record highs and speculative assets rally, investors are watching closely to see whether this is the start of a sustained bull run or another short-lived crypto surge.
What’s clear is that, for now, the crypto market is very much awake—and Dogecoin, against the odds, is once again barking loudest.
The CryptoInvestar
