Rachel Millán ID 734522968

Introduction to Dogecoin (DOGE) and 24-Hour Highlights
In the past 24 hours, the price of DOGE has rebounded, currently reported at about $0.167, up 7.86%, with a trading volume reaching $2.86 billion, an increase of 39.5% compared to the previous day, reversing a recent downward trend. Despite a weekly decline of 14.5%, the RSI is neutral to bullish, and the OBV shows inflows of funds, indicating signs of whale accumulation. Highlights include: Cardano founder Charles Hoskinson revisiting the proposal to upgrade DOGE, aiming to make it the official currency of Elon Musk's X platform, sparking community discussions.
Bitwise and Grayscale disclosed DOGE ETF fees, pushing for an initial application without SEC approval, increasing institutional interest.
On the political front, the DOGE department exposed federal waste, with taxpayers discussing tax transparency; on the X platform, Elon Musk called on Tesla shareholders to support his compensation plan, indirectly boosting confidence in DOGE.
Analysts predict that if the support at $0.16 holds, it may rebound to the $0.22-$0.25 range in November, benefiting from the meme coin revival and the Federal Reserve's easing policies.
Overall, DOGE is regaining momentum amid volatility, with the community optimistic and poised for action.
Dogecoin (DOGE) is an open-source cryptocurrency based on the internet's “Doge” Shiba Inu meme, created by software engineers Billy Markus and Jackson Palmer in December 2013 as a fork of Litecoin. It uses a proof-of-work (PoW) mechanism, with a block time of just one minute, supporting fast transactions, adding about 5 billion DOGE annually, with no maximum supply, emphasizing community-driven initiatives and charitable donations. Currently, there are about 151.6 billion in circulation, with a market cap of approximately $25.3 billion, ranking ninth. DOGE started as a joke but gained immense popularity due to Elon Musk's tweets (such as the 2021 “Dogecoin to the moon”), with prices soaring to $0.73 and a market cap nearing $90 billion, driving the meme coin wave. Although extremely volatile, the DOGE ecosystem has expanded into payments (such as Tesla merchandise) and NFTs, supporting the Libdogecoin library for optimized development, becoming a signature asset in Web3 entertainment and socializing.
$DOGE
{future}(DOGEUSDT)

According to the market dynamics on the morning of November 6, the cryptocurrency market has seen a significant rise, with Bitcoin and Ethereum performing strongly. However, market volatility has also led to large leveraged position liquidations.

The table below summarizes the main market dynamics during the night, allowing you to quickly grasp the core information.

Category Core Event Details
💰 Core Market Bitcoin breaks $104,000 24-hour increase of about 1.68%
Ethereum breaks $3,400 24-hour increase of about 3.37%
⚡ Market Volatility High position liquidations across the network Approximately $1.6 billion liquidated in the past 24 hours; over $81 million liquidated in the past 4 hours, mainly short positions (around $63.46 million)
📰 Important News Whales continue to buy Ethereum The “7 Siblings” address has purchased over 18,000 ETH, totaling nearly 38,000 ETH in two days
The US may establish a Bitcoin strategic reserve Legislators propose using Bitcoin reserves to address the national debt issue
The Federal Reserve may cut interest rates in December Market expectations for a 25 basis point rate cut probability are 69%
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