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

Dogecoin has reached a two-week high after a price surge of nearly 3% to $0.073.

The rally was driven by leveraged demand and a short squeeze, forcing short sellers to buy back DOGE and increase demand.

Futures market inflows and derivatives volume also surged, indicating renewed trader interest and a shift toward long positions.

While some analysts predict that if the momentum continues, DOGE could break the $0.075 resistance and target $0.08, others warn of a potential pullback to $0.07 due to profit-taking by some holders.