According to CoinMeta, as reported by Decrypt, Doge Coin broke through the psychological price of $0.10 this week, reaching its highest price since June, driven by platform news, the overall industry's enthusiasm for meme coins, and a large amount of leveraged betting. Market sentiment shifted towards risk appetite, with traders shifting their profits from Bitcoin to more volatile coins, including Doge Coin. The open interest in Doge Coin derivatives on exchanges increased by about 10% within an hour, reaching $350 million, indicating that leverage played a major role in driving up prices. Although Doge Coin's daily Relative Strength Index (RSI) is 69.4, which is close to the overbought zone, its 50-day moving average is still below the 200-day moving average, forming a typical death cross that indicates a bearish outlook in the long term.