DOGE Soars to Two-Week High as Short Squeeze Fuels Rally

Dogecoin's price has seen a significant surge in recent days, reaching a two-week high of $0.073 after reclaiming the crucial $0.07 support level.

The memecoin's rise was driven by leveraged demand and a short squeeze, which forced short sellers to buy back DOGE and add to its upside momentum.

According to CoinGlass data, over $1.5 million in short positions were liquidated below the $0.07 level, contributing to the price increase.

The surge in Dogecoin's price also saw a significant rise in trading volume, up 72% above $500 million, and a 13% increase in market capitalization to $12.3 billion.