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Dogecoin Surges to Two-Week High Amid Short Squeeze and Leveraged Demand

Guavy AI Editorial Team Published August 12, 2026

Instruments

DOGE DOG

Dogecoin's recent price rally has seen it reach a two-week high of $0.073, up 2.93% on the daily chart.

The memecoin reclaimed its $0.07 support level and moved above both its 9-day and 21-day moving averages.

Leveraged demand and a short squeeze appear to have driven DOGE's price increase, with over $1.5 million in short positions being liquidated.

As the market rebounded, traders were forced to buy back DOGE, adding to its upside momentum.

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