Dogecoin tops daily gainers after $523M flush, but analyst cautions the rebound may fade soon

Dogecoin led the crypto market rebound with a 4.03% gain, following a $523 million liquidation event that cleared excess leverage. Analysts caution that the recovery may be temporary, as Bitcoin remains under pressure and memecoins lack strong catalysts. The broader cryptocurrency market capitalization rose to $2.71 trillion, with decentralized finance (DeFi) and meme tokens showing notable gains. However, retail sentiment around Dogecoin and other major cryptocurrencies like Bitcoin and Ethereum remains bearish, indicating potential challenges ahead for sustained growth.