Today's increase in the price of Dogecoin can be attributed to buying signals on the Robinhood platform and a decreasing appetite for the dollar. The price of Dogecoin rose by 7.5% to $0.186, which is a higher surge compared to other cryptocurrencies. The weakening dollar has led investors to take on more risk, considering meme coins like Dogecoin as speculative investments due to their limited intrinsic value.

Simultaneously, a wallet address made significant purchases of Dogecoin worth millions, stimulating interest in the cryptocurrency. However, despite the price increase, the number of Dogecoin whales - those holding large amounts of the cryptocurrency - has decreased. This shift has coincided with a decline in open interest and funding rates, indicating that investors may be closing positions for various reasons.

Overall, the market dynamics, including the weakening dollar, increased risk appetite, and recent large purchases of Dogecoin, are key factors driving the surge in its price.