Dogecoin Rises Above 10 Cents Wednesday

Bitcoin was trading around $69,500 Wednesday afternoon, up around 7% on the day, while Dogecoin climbed more than 12% to above 10 cents, extending a powerful intraday move.

Dogecoin’s outsized move is a familiar pattern in crypto markets. Bitcoin functions as the system’s reserve asset: when it breaks higher, it signals a broad risk-on turn for digital assets. Large investors typically rotate fresh capital into Bitcoin first, pushing prices and sentiment higher.

As confidence builds and early gains in Bitcoin crystallize, traders hunt for higher beta plays: cheaper tokens that historically move more than Bitcoin on a percentage basis.

Dogecoin, with…

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