Dogecoin (DOGE) is currently one of the best-performing cryptocurrencies among the top 100 projects. According to CoinGecko data, the popular memecoin has rallied 8.6% in the last 24 hours, 2.1% in the last week, and 2.3% in the 14-day charts. Despite the price rally, Dogecoin (DOGE) is still down by 14.7% over the previous month and 61.3% since January 2025. Let’s discuss why DOGE is up today and if the rally can sustain itself over the coming days.

Why Is Dogecoin Up Today, And Will The Price Rally Continue?

Dogecoin’s (DOGE) latest upswing comes amid a larger market rebound. Most crypto assets are trading in the green zone today. Memecoins, in particular, seem to be seeing a massive rebound. Pepe (PEPE) is currently the best-performing crypto among the top 100 projects by market cap. Dogecoin’s (DOGE) rival, Shiba Inu (SHIB), is also experiencing a price surge today.

The market rebound could be due to increased confidence as we enter the new year. However, the rally may come to a quick halt over the coming weekend. The crypto market is still quite fragile and far from fully recovered. The chances of another interest rate cut this month is also quite low. Investors will likely continue their risk-averse approach. Dogecoin (DOGE), being a memecoin, carries some of the highest risk in the market, and hence could face a correction very soon.

Also Read: What 2026 Has in Store for Dogecoin Price: 400% Rally to $0.65?

There is also a possibility that the crypto market will continue its upswing. Investors could make bullish bets as we enter 2026. Many experts also expect Bitcoin (BTC) to hit a new all-time high in 2026. BTC hitting a new peak could lead to Dogecoin (DOGE) experiencing increased inflows. Such a development could lead to a sustained rally for the memecoin. However, things are never certain in the crypto realm. Prices could go in either direction.