Introduction

The value of Dogecoin (DOGE) rose by 17% on Thursday, climbing above $0.22 and reaching the highest price since November 2021. The cryptocurrency had a price range of $0.1818 - $0.2212 during the day.

According to data from CoinGecko, Dogecoin's market cap was at $6.7 billion, showing an increase of 86% in the past 24 hours. The price of DOGE has increased by over 40% in the past week and more than 125% in the past month, pushing it back into the top 10 cryptocurrencies.

Speculation is growing about whether the bullish bets on Dogecoin will help it reach its all-time high of $1. Positive news reports, including the impending listing of Dogecoin futures trading on Coinbase and the potential adoption of DOGE by Elon Musk's X Payments, have contributed to the anticipation around the cryptocurrency.

The Open Interest in Dogecoin has reached above $2.2 billion, with a 25% increase in the past 24 hours. This surge in interest suggests a positive outlook for the future of Dogecoin.