First Mover Asia: Dogecoin Surges 16% to Continue Its Holiday Cheer

By Greg Ahlstrand and James RubinThe popular meme coin soared 16% over the previous 24 hours and was trading at more than $.10 cents. DOGE has risen nearly 50% since last Tuesday with most of its gains occurring during U.S. Thanksgiving holiday celebrations, which started on Thursday.

Investors fretting another post FTX-related price plunge in crypto markets could otherwise take heart at bitcoin's resilience, although the largest cryptocurrency's ability to hold its perch over $16,000 for yet another few days hardly suggests a more permanent upturn is approaching, a number of analysts have said. BTC was recently trading at about $16,500, roughly flat for the past 24 hours and about where it stood Wednesday when the U.S. began its Thanksgiving holiday celebrations.

Traditional markets were closed on Thursday and stock trading the following day was light as many businesses closed, including major financial services firms. The calm extended to crypto markets.

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