Dogecoin Soars 27%, Bitcoin Approaches All-Time High

Dogecoin made a strong rebound this week, while Bitcoin nears $104,000, but Ethereum's gains have outpaced both.

Dogecoin rose 9% on the day and 27% this week, reaching its highest price in two months.

Bitcoin has returned above $100,000, possibly driving broader market sentiment upward.

Bitcoin is only down 5% from its all-time high, while Ethereum is the biggest gainer among cryptocurrencies this week.

Dogecoin hit its highest price in months earlier Saturday, nearing $0.23 as the overall cryptocurrency market rebounded, with Bitcoin just a few percentage points from its current all-time high.

Over the past week, Dogecoin has surged nearly 27%, currently priced at $0.225, with a 9% increase just in the past day. According to CoinGecko, Dogecoin's price peak earlier Saturday marked the highest record since March 2.

As prices rise, according to CoinGlass, Dogecoin's open contracts have also reached their highest level since mid-February, currently at $2.52 billion. Open contracts measure the total value of futures contracts that have not been settled.