Bullish bets on Dogecoin hit a record $1 billion — meme coin up 40%

Traders continue to use meme coins as bets in the Ethereum and Solana blockchain ecosystems, pushing Dogecoin futures to a record high.

As noted by Coindesk, bullish bets on Dogecoin reached a record $1 billion, and almost 70% of bets were long.

Token Dogecoin grew by 40%, leading growth among major tokens and significantly outperforming the broader cryptocurrency index CoinDesk 20, which grew by almost 7.8% over the same period.

Meanwhile, the flagship cryptocurrency bitcoin continues its steady growth, reaching $63 thousand with yesterday’s $60 thousand. The last time bitcoin traded above $60 thousand was in November 2021, shortly after it reached its all-time high.