Dogecoin has experienced a notable increase of 3%, moving closer to the important psychological level of 10 cents. This rise is largely attributed to a surge in interest and investment in memecoins, which has been driven by a breakout in the price of Ethereum (ether). As Ethereum gains momentum, it appears to be influencing investor sentiment and prompting more people to bet on memecoins like Dogecoin, resulting in its current upward trajectory.