Open interest (OI) in futures contracts for the Dogecoin token (DOGE) has reached $1.01 billion, long positions prevail, according to CoinGlass data. This increase of 50.87% occurred against the background of the growth of bitcoin. During February 2024, the OI remained below $500 million.

According to Coinalyze analysis, long positions prevail in the DOGE futures market, which indicates the sentiment of the bulls. However, data from CryptoQuant on the Relative Strength Index (RSI) indicates that the asset is overbought, which may signal a high risk of a trend change.

At the moment, DOGE is trading at a price of $0.1282, with an increase of 10% per day and 51% per week, from February 28 to February 29, 2024.

DOGE showed an increase, similar to other assets, in connection with the bitcoin rally. Recall that on February 28, 2024, bitcoin exceeded the $63,000 mark for the first time.

Earlier it was reported about the appearance of "inscriptions" on the Dogecoin network, as well as the launch of a fully functioning version of the 1993 DOOM shooter based on the DOGE protocol by one of the developers.