Dogecoin Rally: DOGE Surges 10% Amid Memecoin Boom

Dogecoin's price surged by 10% in the past 24 hours, mirroring gains across other old-school memecoins. Pepe led the group with a 19% gain, while Shiba Inu matched Dogecoin's increase at 10%. The total market capitalization of these three tokens rose by more than 5.37%, while their combined trading volume skyrocketed by 189% to around $4.14 billion.

The rise in Dogecoin's price can be attributed, in part, to the broader market conditions. The U.S. Treasury's decision to double its long-term bond buyback program added liquidity to the market and weakened the U.S. dollar, pushing DOGE higher as a base asset.

Another key driver of Dogecoin's rally was its access to the Paxos network, used by PayPal and Venmo. This integration gives the token more exposure to payment tools already used by millions of people, potentially driving future trading activity.