Dogecoin Surges 10% as Memecoin Sector Sees Widespread Gains

Dogecoin (DOGE) rallied 10% in 24 hours, reaching $0.078 at press time, as the memecoin sector surged by over 5.37%. PEPE and SHIB also saw significant gains, climbing 19% and 10%, respectively.

The increased activity was partly due to the U.S. Treasury's announcement to double its long-term bond repurchase program, which pumped liquidity into financial markets and put downward pressure on the dollar.

Dogecoin's integration with the Paxos payment network, utilized by PayPal and Venmo, could also be contributing to its price increase as it expands its payment ecosystem reach.