Dogecoin (DOGE) continued its bullish price action for the second straight day, with the leading meme coin jumping to a new monthly high of $0.08022 today, according to data from Coingecko.
After a short fall, Dogecoin now changes hands at around $0.077614 a piece, up 16.7% over the past 24 hours. Trading volumes also spiked by 196% over the same period.
On a weekly note, DOGE has gained more than 31%, the largest weekly gainer among the top 20 cryptocurrencies by market capitalization.
Dogecoin, the tenth-largest cryptocurrency with a market capitalization of $10.5 billion, is less than a billion dollars away from surpassing Solana (SOL).
Nearly $8.69 million Dogecoin futures positions were liquidated over the past 24 hours, according to data from Coinglass. Most (78.81%) of Dogecoin liquidations came from blown-out short positions.
Red bars at the right end indicate short positions liquidated over the past two days. source: Coinglass.
Dogecoin’s competitor meme coin, Shiba Inu (SHIB), has also gained nearly 7.8% over the past 24 hours and trades at around $0.00001123.
Over the past 24 hours, leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) have also posted modest gains of 1.6% and 2.3%, respectively.
Elon’s Twitter Acquisition
The primary reason behind Dogecoin’s bullish price action is likely Elon Musk’s recent announcements about his Twitter acquisition.
Prominent technology investor Cathie Wood’s Ark Invest released an updated Bitcoin price target, outlining a path for the top cryptocurrency to reach a price of as much as $2.4 million per coin by 2030.
Released on Thursday, the latest report levels up Ark’s previous price predictions from its annual Big Ideas report, which used total addressable markets (TAM) and penetration rate assumptions to determine a price prediction for Bitcoin.
Now, the firm combined its previous predictions with expe...
Bitcoin ETFs attracted $442 million in inflows yesterday, marking the fourth consecutive trading day of positive accumulation. Markets have been green since last Thursday, but were closed in various regions in observation of Good Friday and Easter.
Total assets under management now stand at $108 billion, according to data from CoinGlass, reaching its highest level since late February, as Bitcoin continues its recovery from the low $80,000 range this week.
BTC, the original cryptocurrency, is cur...
An Ethereum user fell victim to an address poisoning scam on Sunday, resulting in the loss of nearly $700,000 worth of the USDT stablecoin.
Experts warn this rising form of scam is easy to fall victim to if users aren’t militant in fully checking the address that they’re sending funds to.
What is address poisoning?
For address poisoning to work, malicious actors create an address that looks strikingly similar to an address that the victim has interacted with recently. The attacker will then send...
