Dogecoin (DOGE) climbed for the second day in a row as speculation about the memecoin playing a larger role on the newly rebranded X platform fueled the rally.
According to CoinGecko data, DOGE has increased by up to 10% in the last 24 hours to over 7.7 cents, with $2.3 billion in trading volume.
The majority of these volumes were generated by the South Korean exchange UpBit, which is notorious for drawing speculative plays, versus the Korean won trading pair.
According to Coinglass statistics, futures traders lost roughly $10 million betting on and against dogecoin price moves.