Meme coins are rising again after the Thanksgiving holiday in the United States, with Dogecoin (DOGE) and other meme-themed tokens jumping like Bitcoin (BTC) is testing a return to $99,000 after nearly a week below that mark.
Dogecoin, the original and most valuable meme coin by market capitalization, is currently at the price of $0.42up 7% on the day per data from CoinGecko. DOGE last reached this mark on November 25 and had remained below it since then.
Like other meme coins, DOGE is notoriously volatile and can experience wild daily fluctuations. But its price has increased enormously again in recent weeks, with its price jumping 149% in the last 30 days. support from famous backer Elon Musk of Donald Trump – and Trump’s electoral victory as a pro-crypto candidate. Dogecoin has reached a three-year high price of $0.475 last Saturday.
Major meme coins have increased overall over the past day, with Popcat (POPCAT) up 12%, Bonk (BONK) up 13%, and Brett (BRETT) and Pepe (PEPE) each up about 9%.
The surge has burned some traders betting on falling prices of major coins, data from CoinGlasswith nearly $6 million worth of DOGE shorts and $3.3 million worth of Peanut the Squirrel (PNUT) shorts liquidated in the last 24 hours. A total of $221 million in cryptocurrency futures positions were liquidated during this period, with Bitcoin leading the way at around $65 million.
The vast majority of these liquidated Bitcoin positions were short positions, as the price of the leading cryptocurrency is also rising. It is trading above $98,400 At the time of writing, it appeared to be attempting to gain $99,000 earlier on Friday, reaching $98,685, but has cooled slightly since.
Last Friday, November 22, Bitcoin hit an all-time high price of $99,645, moving closer than ever to the milestone price of $100,000.
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