Dogecoin has risen to a two-week high of $0.073 after experiencing a significant surge in derivatives volume, which increased by 114%.
This increase in derivatives trading led to over $1.5 million in short positions being liquidated as the market rebounded.
The next test for Dogecoin will be whether spot buyers can support a move through $0.075 towards $0.08, which could be a significant milestone for the memecoin.
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