Despite the recent price decline of Dogecoin, investors continue to demonstrate confidence in this cryptocurrency, recording significant volumes in the futures market.
Price Decline of Dogecoin
As of press time, Dogecoin was trading at $0.1645, representing a 1.37% decrease from the previous price of $0.1673. This suggests the possibility of a rebound to higher levels.
Open Interest Data
In the last 24 hours, 12.3 billion DOGE in open interest has been recorded in the futures market, equivalent to $1.98 billion. This data indicates that many traders are hoping for a significant anticipated breakout.
Investor Optimism
According to CoinGlass data, the highest interest in Dogecoin is observed on Gate.io, where 29.77% of open interest accounts for 3.58 billion DOGE worth $588.36 million. Other exchanges such as Binance, Bybit, and Bitget also show significant volumes.
Despite market volatility and challenging conditions, Dogecoin investors remain confident in the cryptocurrency's potential, anticipating possible growth.
