By Ameer Hamza
May 10, 2025

Dogecoin and Bitcoin surge

Dogecoin and Bitcoin experience significant gains in the crypto market this week.

Dogecoin is making a strong comeback, posting a remarkable 27% gain this week as Bitcoin inches closer to its record high of $108,786. While Bitcoin’s current price hovers around $103,700, Dogecoin has surged to $0.225, marking its highest price since March 2, 2025.

Dogecoin price chart

Dogecoin price chart showing a steady increase over the past week.

According to CoinGecko, Dogecoin’s price spiked nearly 9% on Saturday alone, touching $0.23 at its peak. The surge has also driven open interest in Dogecoin futures to $2.52 billion, its highest level since February, as per CoinGlass data. Although these figures remain below their 2021 peaks, the current momentum suggests renewed interest in the meme coin sector.

Despite Dogecoin’s impressive rally, Ethereum has emerged as the top performer among leading cryptocurrencies, gaining 32% this week. The surge was primarily driven by the successful Pectra network upgrade and increased market optimism. Ethereum is now trading at $2,409, significantly outpacing other major coins in terms of weekly gains.

Meanwhile, Bitcoin continues to dominate the market narrative, reclaiming the $100,000 mark earlier this week. As of Friday, it was trading at $103,700, just 5% below its all-time high set in January. This latest rally has contributed to a wave of liquidations, with daily crypto market liquidations exceeding $1.1 billion on Friday. Ethereum accounted for the majority of these losses, with short traders bearing the brunt of the market’s sudden upswing.

In the meme coin sector, other contenders like Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) have also experienced substantial gains. MOODENG nearly tripled in price over the past week, while PNUT saw significant upward momentum as well.

Key Takeaways and Insights:

  • Dogecoin hits $0.225, its highest price since March, amid renewed investor interest.
  • Bitcoin nears its all-time high, currently trading at $103,700, as market sentiment remains bullish.
  • Ethereum outperforms other major coins with a 32% weekly gain, fueled by the Pectra upgrade.
  • Crypto market liquidations reach $1.1 billion, with Ethereum short traders facing significant losses.

FAQs

  • What caused Dogecoin’s recent price surge? – Increased investor interest and market sentiment have driven Dogecoin’s price up by 27% this week.
  • How close is Bitcoin to its all-time high? – Bitcoin is currently 5% below its all-time high of $108,786, set in January 2025.
  • Why is Ethereum performing better than other cryptocurrencies? – Ethereum’s Pectra network upgrade has boosted investor confidence, leading to a 32% gain this week.
  • Are other meme coins also gaining momentum? – Yes, coins like MOODENG and PNUT have also seen significant price increases this week.
  • What are