Dogecoin (DOGE) has experienced a significant price surge of 48%, making it the leading performer among major cryptocurrencies even amidst a general market downturn. This unexpected rally has attracted attention from traders who are now speculating on the possibility of Dogecoin reaching the $1 mark.
The price movement is closely associated with the influence of Elon Musk, a known supporter of Dogecoin, whose actions and comments often impact the market dynamics around this cryptocurrency.
Despite the excitement around Dogecoin's price rally, it has resulted in over $68 million in losses for traders who bet against the cryptocurrency, highlighting the volatile and unpredictable nature of the digital asset market.
