M2's money supply has increased dramatically, fueling the surge in emoticon coins and hope for Bitcoin's return

Dogecoin [spills] outpaces Bitcoin in early Wednesday, and Bitcoin rebounded to $114,000 amid expectations that the M2 money supply would drive its rise. Dogecoin’s rise is driven by hot social media talks and increased trading volumes, while Bitcoin’s recovery reflects optimism about M2 expansion, which has historically been linked to rising cryptocurrency prices. Analysts point out that Dogecoin's momentum remains speculative, and Bitcoin is seen as a potential hedge for currency expansion, and traders are expected to experience catch-up trading.