Here's Why Dogecoin Ripped 4% Higher Today
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By Chris MacDonald – Dec 9, 2025 at 6:14PMKey PointsWith a key interest rate decision set to come from the Federal Reserve tomorrow, Dogecoin investors appear to be bullish.This could suggest that investors are focusing more on token-specific catalysts than the macro backdrop right now.Let's dive into what investors are paying the most attention to right now. These 10 Stocks Could Mint the Next Wave of Millionaires ›CRYPTO: DOGEDogecoinMarket Cap$23BToday's Changeangle-down(0.04%) $0.01Current Price$0.15Price as of December 9, 2025 at 6:45 PM ETDogecoin is seeing decent upside ahead of some potential fireworks during the latter half of this week.On an intraday basis from yesterday's equity market close to Tuesday at 5:30 p.m., the so-called "Godfather" of meme coins, Dogecoin (DOGE +4.14%), surged 4.1%. As I mentioned in another recent piece on the rival meme token Shiba Inu, these moves in what I would classify as somewhat similar assets at the more speculative end of the cryptocurrency sector are interesting, as they come ahead of a pivotal interest rate meeting by the Federal Reserve Open Market Committee tomorrow. ExpandCRYPTO: DOGEDogecoinToday's Change(4.14%) $0.01Current Price$0.15Key Data PointsMarket Cap$23BDay's Range$0.14 - $0.1552wk Range$0.13 - $0.47Volume1.7BAvg Vol0Gross Margin0.00%Dividend YieldN/A With so much uncertainty ahead in the near term, the willingness of investors to hit the bid is certainly telling. I'm of the view that these sorts of intraday moves ahead of a pivotal catalyst are perhaps more telling than the eventual volatility that may lie ahead, as they suggest investors are taking a more bullish outlook on speculative assets more broadly. With that in mind, let's dive into some token-specific catalysts that could drive Dogecoin even higher over the course of the latter half of this week. Will this momentum in Dogecoin continue? Source: Getty Images. In a sense, I think that meme tokens are among the most valid and usable sentiment gauges in the market, and many experts appear to agree. Forget about surveys or polls; seeing what investors are doing with the most speculative parts of their portfolios can be very telling. As they say, money talks. What's interesting is that Dogecoin's near-term trend has been relatively consistent, with some of my commentary from yesterday suggesting that some of this move is tied to the macro environment and positioning ahead of tomorrow's meeting. I still think that's the case. Advertisement However, upon examining the underlying data, it appears that most of this move today is speculative in nature. Capital flows aren't the main cause of today's spike, with recent data showing spot ETFs tracking the price of Dogecoin saw just $142,000 in total value change hands over the past 24 hours (as of this morning). And Dogecoin's total value locked, a measure of how much value is locked within its network via decentralized exchanges and other applications, sunk from September levels of around $25 million to around $15 million in recent days. That said, turning our attention to liquidation data, which measures the percentage of bullish or bearish leveraged derivatives bets that are unwound over 24 hours, it's clear that bearish investors are being unwound at an increasingly rapid rate. Over the past day, roughly $3 million of the $4.5 million in liquidations were among short positions, with 1-hour and 4-hour metrics skewing even more toward bearish bets getting unwound. If this momentum continues in the derivatives market, it could be the case that Dogecoin's underlying fundamentals simply don't matter as much as investor sentiment. Over the past few days, sentiment has shifted sharply, and that's the story with Dogecoin once again.About the AuthorChris MacDonald is a contributing Motley Fool cryptocurrency analyst covering digital assets and blockchain companies. Chris has more than 10 years of professional experience in venture capital and corporate finance. He holds an MBA in finance from the University of British Columbia’s Sauder School of Business.TMFChrisMacDRead NextDec 7, 2025 •By Lyle DalyShould You Invest in Dogecoin?Dec 6, 2025 •By Chris NeigerHere's Why I Wouldn't Touch Dogecoin With a 10-Foot PoleDec 4, 2025 •By Adam SpataccoWill Dogecoin Reach $1 By the End of the Year?Dec 3, 2025 •By Anthony Di PizioPrediction: Dogecoin Is Going to Plunge to $0.05 in 2026Dec 3, 2025 •By David Jagielski, CPAShould You Invest in the New Dogecoin Spot ETF?Dec 2, 2025 •By Johnny RiceWhy Dogecoin Is Jumping Today