Dogecoin Surges to $0.2, Triggers $2B Bets

Dogecoin's price surged to its highest level since December 2021, reaching 22 cents with trading volumes and futures open interest rising significantly. Speculation about the token's potential implementation on the social-media platform X, especially in relation to a new payment branch being awarded more licenses in the U.S., has fueled trading interest. Trading volume for DOGE shot up to $7 billion in the past 24 hours, and futures tracking the token saw open interest rise to nearly $2 billion across crypto exchanges, indicative of rising bets on price volatility.