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Dogecoin Joins Ethereum In Double-digit Gains As Crypto Rallies - Cryptocurrency - PostsMania

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Dogecoin Joins Ethereum In Double-digit Gains As Crypto Rallies by horlique2: 05:07 pm On 10 Oct 2022

Dogecoin has jumped 10% over the past 24 hours alongside Ethereum. Shiba Inu has also enjoyed a hefty rally

DOGE, the largest and perhaps most well-known meme coin, rose nearly 10% over the past day. The canine crypto is currently trading at a new monthly high of $0.065, according to data from Coingecko.

DOGE, the tenth-largest cryptocurrency with a market capitalization of just under $9 billion, is now well ahead of Polkadot’s (DOT) market cap of $7.5 billion.

Dogecoin’s trading volumes across different exchanges are upbeat too. The cryptocurrency’s trading volume clocked above $682 million over the past 24 hours, up 178% from the previous trading day.

Today’s heroics has helped DOGE reverse its weekly and monthly losses. On a monthly note, DOGE has gained nearly 7.6%, suggests Coingecko.

Despite today’s double-digit rise, though, DOGE is still down 91% from its all-time high of $0.7315 recorded in May 2021.

DOGE futures positions worth $2.22 million have been liquidated over the past 24 hours, according to data from Coinglass. Most (78.96%) of the liquidations came from blown-out short positions.



Besides the broader market's bullish momentum, reduced miner reserves and steadily increasing long-term holders have also attributed to DOGE’s bullish price action.

The total miner reserve is at 4.39 billion DOGE, down nearly 65% over the past 12 months to levels last seen in December 2013
decrypt.co/112885/dogecoin-joins-ethereum-double-digit-gains-crypto-rallies

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