Meme cash are rising once more after the Thanksgiving vacation in the US, with Dogecoin (DOGE) and different meme-themed tokens leaping as Bitcoin (BTC) checks a return to $99,000 after practically every week spent under that mark.
Dogecoin, the unique and most dear meme coin by market cap, is at the moment priced at $0.42, rising by 7% on the day per information from CoinGecko. DOGE final hit this mark on November 25 and had been under it within the days since.
Like different meme cash, DOGE is famously unstable and may see wild day by day swings. However it’s nonetheless up big in latest weeks, leaping by 149% in worth during the last 30 days amid famed backer Elon Musk’s support of Donald Trump—and Trump’s election win as a pro-crypto candidate. Dogecoin hit a three-year high price of $0.475 final Saturday.
Main meme cash are broadly up over the previous day, with Popcat (POPCAT) rising 12%, Bonk (BONK) up 13%, and Brett (BRETT) and Pepe (PEPE) every up about 9%.
The surge has burned some merchants betting on the worth of main meme cash to go down, per information from CoinGlass, with practically $6 million in DOGE shorts and $3.3 million in Peanut the Squirrel (PNUT) shorts liquidated over the previous 24 hours. Total, $221 million price of crypto futures positions have been liquidated in the course of the span, led by Bitcoin at about $65 million.
The overwhelming majority of these liquidated Bitcoin positions have been shorts, as the worth of the main cryptocurrency can also be on the rise. It is trading above $98,400 as of this writing and appeared to be making a play for $99,000 earlier Friday, touching $98,685—however has cooled barely since.
Final Friday, on November 22, Bitcoin jumped to an all-time excessive worth of $99,645, coming nearer to the $100,000 milestone worth than ever earlier than.
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