Dogecoin (DOGE ($ 0.23)) is indicating a challenging week of a possible cabinet. In the last seven days, Dogi fell 10.75% due to comprehensive market voltality. However, with an increase of 5.98% in open interest in the last 24 hours, investors remain provincial.
Data from Coinglass shows that investors committed to contract for a price of 18.12 billion dogs, approximately $ 4.38 billion. This significant flow of capital highlights the growing confederation in the possibilities of close periods of dogcoin. The open interest represents the total number of unresolved, actively trading futures contracts. Recent 5.98% Spikes suggests that traders are expecting a possible price recovery soon.
Dog price and trade volume climbing
As the press time, Dogecoin trades at $ 0.2423, which shows 2.36% price investment in the last 24 hours. Meanwhile, the trading volume increased by 62.12% to $ 2.49 billion, which outlines continuous market activity. It indicates the utterance that the capital is being rolled back into the meme coins, leading the renewed Montom of the sector with dogcaoin.
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The recent price speed of DogeCoin is aligned with wider altcoin advantage. Other major cryptocurrency, Inkloding Connens Coin (BNB ($ 837.99)), has also recorded a motam upwards. As a result, the dominance of bitcoin has declined as Altcoins have captured a large market share.
Golden Cross Signal Potential Reversal
At the end of last week, Dogecoin contacted a golden cross to form a rapid technical indicator that often indicates a potential value inverter. Analysts believe that this pattern can help recall Dogi with a recent decline.
Crypto analyst Ali Martinez said that if it successfully recurs $ 0.26 resistance level, Dogcoin can roll $ 0.46. Current increase in open interest and trading volume can provide the necessary speed to reach this target.
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The coinglass data identifies the data.io, binance, and bybit, which is in the form of major exchanges leaving futures activity of docin. With enlarged investor’s participation and improvement in technical indicators, DOGE can be prepared for an important upwards in the coming days.
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