The post What Does $670M Open Interest Surge Mean for DOGE Traders? appeared on BitcoinEthereumNews.com.

Dogecoin price climbed by over 15% on Friday, reaching $0.24 at press time. As capital rotations accelerate in the memecoin sector, BTC/DOGE correlation trends and surging derivatives market activity suggest Dogecoin may be gearing up for another explosive move. Dogecoin Price Gains Another 15% as DOGE/BTC Correlation Flips Bullish Dogecoin (DOGE) has surged into a vertical rally over the past 48 hours, adding over $10 billion to its market capitalization in a sharp response to revived risk appetite. While Bitcoin price remains capped below $105,000, DOGE has emerged a dominant short-term play for traders capitalizing on the market sentiment. DOGE currently trades at $0.2365, up 15.1% on the day and gaining nearly 14.9% against Bitcoin, with the DOGE/BTC pair printing 0.052289 BTC. Dogecoin (DOGE) price | Coingecko This relative strength underscores a key inflection point in the DOGE/BTC correlation, which has now flipped decisively bullish for the first time since early 2024. The DOGE rally appears driven by short-term capital reallocations from BTC into high-volatility assets, with traders favoring speculative altcoins in anticipation of broader market risk-on continuations. The current dynamic aligns with DOGE’s historical behavior, where the token often sees outsized gains during Bitcoin consolidation phases. In the current case, DOGE’s breakout above the $0.20 resistance zone with increasing volume confirms growing conviction among short-term speculators, while price stability near daily highs indicates limited profit-taking pressure so far. $670 Million Surge in Dogecoin Open Interest Signals More Gains Ahead The rapid increase in Dogecoin’s spot price is now being validated by an even sharper surge in derivatives market activity. Open Interest in DOGE futures has surged 23.52%, increasing $670 million in 24-hours, to $2.76 billion, outpacing the token’s 15% price gain over the same period. This divergence highlights not just bullish price action but also a deepening commitment among…

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Filed under: News - @ May 10, 2025 9:25 pm