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The recent surge in Dogecoin's (DOGE) price suggests a potential for gains as it indicates a recovery trend. Historically, instances of short liquidations within the past 24 hours have often been succeeded by price increases, and this pattern could repeat itself this time.

Institutional investors have made a significant entrance into the cryptocurrency market, particularly following the introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States.

Bitcoin (BTC) has surpassed the $71,000 threshold, marking its first time crossing this milestone since April 12. Presently, it's trading at $71,200.

Shiba Inu and Dogecoin remain popular options for investors as the bull market progresses. However, recent crashes have not only affected their prices but also dampened market sentiment surrounding these meme coins.

The cryptocurrency market is undergoing a notable transformation in terms of mainstream acceptance. With the onset of the Bitcoin halving and the excitement surrounding BTC exchange-traded funds (ETFs), there's a surge in user participation in the sector.

Over the past six months, investors who purchased the latest cryptocurrency listings on Binance, the leading cryptocurrency exchange, have experienced a collective decline of over 18%.