Dogecoin's Latest Rally Leaves Wall Street Behind

Dogecoin (DOGE) has rallied more than 15% to above $0.10, making it one of the strongest performers among major cryptocurrencies. This surge came during a broad improvement in crypto risk appetite, where Bitcoin broke above its recent September trading range and climbed roughly 5%. The forced buying among traders who had bet on lower prices led to over $1 billion in crypto liquidations, with approximately 82% coming from short positions.

The rally favors higher-beta cryptocurrencies like DOGE, which combines deep liquidity with speculative interest, derivatives activity, and strong retail recognition. This helps explain why the Dogecoin price rose more than 15% while Bitcoin gained only about 5%. XRP rose around 7%, Solana gained roughly 5%, and Ether advanced about 3% during the same broad rally.

However, the current DOGE rally is interesting because crypto-native traders have clearly returned, but evidence from regulated investment products suggests that longer-duration capital has not followed with the same enthusiasm. The three tracked U.S. Dogecoin funds had accumulated just over $12 million in net inflows through September 10, and Bitwise announced plans to close its BWOW Dogecoin ETF due to weak demand.