In the last 30 days, Dogecoin (DOGE) has dropped by 26%. Despite these fluctuations, traders continue to express optimism about the future of this meme cryptocurrency.
Traders Bet on DOGE Comeback
CoinGlass data shows that in the last 24 hours, investors have committed 10.50 billion DOGE worth $1.84 billion to the futures market. This indicates a bullish sentiment among traders who hope for a further rise in the price of the meme coin.
Future of Dogecoin and Its Potential
With DOGE currently priced at $0.1757 and a decline of 6.18% in the last 24 hours, trading volume stands at $1.95 billion, reflecting a 44.92% increase. Market participants believe that DOGE's price may recover to the $0.20 level.
Overall State of the Meme Cryptocurrency Market
While Dogecoin faces a downturn, its increasing trading volume and significant open interest allow traders to anticipate potential growth. However, the overall sentiment in the meme cryptocurrency sector remains under pressure.
Despite current challenges, traders remain optimistic about Dogecoin's future. The increase in trading volume and open interest may support a price rise in the near future.
