From August 8 to 9, the price of Ethereum rose from $3,900 to $4,300, triggering one of the largest liquidation waves of the year in less than 48 hours.

Data shows that this wave directly "evaporated" $238 million in leveraged positions, most of which were ruthlessly harvested from short sellers of ETH, while the remaining were the long positions that chased the highs and got caught in the reversal.

This surge has led many traders to start discussing again: the possibility of reaching $4,500 by the end of #ETH is back! Moreover, this enthusiasm has also ignited other coins, with Dogecoin (DOGE) regaining attention on social media, and meme coin players seem to be enjoying the "bullish spillover effect" brought by ETH.

In simple terms—when Ethereum pumps, even neighboring Dogecoin gets to join in the fun!