Dogecoin Surges 15% Amid Broader Crypto Rebound
Dogecoin surged 15% in Tuesday's Asian morning session to lead major tokens, while Bitcoin held steady above $85,600. The significant move came after a broader crypto rebound, rather than an isolated event.
The surge in Dogecoin was accompanied by losses for only one large-cap token, ZEC, which fell 4% to just above $1,450. Other major tokens, including XRP, SOL, and Ether, saw more modest gains of between 3% and 7%. BNB and TRX gained between 1% and 2%, but failed to keep pace with Dogecoin's impressive rise.
Bitcoin's flatness over the past hour, following a 5% 24-hour run, suggests that fresh buyers are needed to extend the rally. The market's need for genuine buying interest is highlighted by the decline in liquidations from Monday's peak of $300 million per hour to under $11 million in the past hour.
The AI trade, driven by strong early demand for Meta's new AI agent Muse, has contributed to the broader crypto rebound. Chipmakers Samsung Electronics and SK Hynix led the advance after U.S. semiconductor stocks rallied on Monday.