Dogecoin Surges 2.93% to Two-Week High Amid Short Squeeze

Dogecoin (DOGE) has experienced a significant price surge, rising 2.93% to reach a two-week high of $0.073.

This upward momentum is largely attributed to the memecoin's ability to hold onto the crucial support level of $0.07.

The trading volume for DOGE has increased by 72%, exceeding $500 million, while its market capitalization has grown 13% to reach $12.3 billion.

A key factor driving this price rally is the short squeeze caused by leveraged demand and liquidations of over $1.5 million in short positions below $0.07, as reported by CoinGlass.