Dogecoin (DOGE) has experienced price fluctuations over the past week, but investor interest in this meme coin remains high, as evidenced by rising open interest.
Open Interest Rises Amid Market Volatility
According to CoinGlass data, open interest in Dogecoin futures increased by 5.98% over the last 24 hours, amounting to 18.15 billion DOGE, equivalent to $4.38 billion. This significant investment highlights investor expectations for growth in the upcoming days.
Analytical Predictions and Targets
Analyst Ali Martinez predicts that Dogecoin has the potential to rise to $0.46 if it can reclaim the $0.26 mark. At the end of last week, Dogecoin was on the verge of forming a golden cross, which could support price recovery.
Overall Market Situation for Dogecoin
As of press time, Dogecoin was trading at $0.2423, representing a 2.36% increase over the last 24 hours. Trading volume soared by 62.12% to $2.49 billion, indicating continued investment in the asset. The current bullish trend is supported by increased capital flowing into the meme coin sector.
Thus, despite recent price fluctuations, Dogecoin demonstrates solid investor interest and potential for growth in the coming days.
