Bitcoin Did Not Reach $100,000 But Dogecoin Exploded To Nearly $0.5 With Two Digits Up

All eyes in the cryptocurrency community were focused on Bitcoin last night as the asset was expected to reach the coveted milestone of $100,000. Despite being only $250 away on most exchanges, BTC failed to do so and dropped by about a thousand dollars. However, Dogecoin has emerged and attracted attention right now, with a sharp increase to about $0.48 at the beginning of today - a new peak in 3.5 years.

The largest meme coin has been fluctuating around $0.4 for several consecutive days but was ultimately held lower by the bearish side. However, it surged above that level yesterday to $0.42 initially and then spiked to $0.48 for the first time since the market uptrend in the first half of 2021. Dogecoin is one of the most notable cryptocurrencies since Trump won the US election, perhaps due to Musk's involvement with both the meme coin and the elected president. DOGE has surged over 200% in the past month, and cryptocurrency analysts are setting impressive and perhaps ambitious targets for this asset in this bull cycle.

DOGE is also the best-performing meme coin in the past 24 hours. The only other green coin is SHIB, which has risen by over 7%. However, PEPE, BONK, WIF, FLOKI, BRETT, POPCAT, and even the recent frenzy stock PNUT have all incurred losses of up to 7%. Furthermore, according to CoinGlass, the surge in DOGE's price has led to nearly 40 million dollars in short liquidation in the past 24 hours for those shorting Dogecoin.