The post Dogecoin investor interest surges – Is DOGE on track to $0.5? appeared on BitcoinEthereumNews.com.

DOGE bulls aim for a strong weekly conclusion after previously consolidating for about two weeks. Does this validate Dogecoin’s position in terms of investor interest in 2025, considering its strong performance in 2024? If you were curious about Dogecoin’s [DOGE] prospects in 2025, then perhaps its first week’s performance should put you at ease. This is because the memecoin kicked off the week on a bullish leg, perhaps an indication of continuity after a mostly bullish Q4 2024. DOGE has particularly concluded the week with a surge in momentum, raising hopes that it could potentially hit $0.5 in the coming days. Its previous attempt in December saw it rally as high as $0.48, after an impressive few weeks of bullish momentum. For context, the 45% Dogecoin December pullback was short-lived, but it was followed by a two-week consolidation. This was largely because investors were waiting which direction the price would swing in the first week of January. DOGE exchanged hands at $0.39 at press time, courtesy of a 27% weekly uptick. This suggesteds that price may make another attempt at cracking the$0.50 price tag within the next few weeks if it sustains bullish demand. Source: TradingView Dogecoin’s sharp RSI pivot during the week confirmed the presence of robust demand, hence the corresponding bullish reaction. A deeper assessment under the hood reveals that it was the consequence of a mix of spot and derivatives activity. Dogecoin derivatives demand takes the lead According to Coinglass, Dogecoin derivatives volumes surged by as much as 175% to more than $9 billion in the last 24 hours. At least this was the case at the time of observation, with Open Interest clocking in at over $3 billion. source: Coinglass The Open Interest spike was reminiscent of the bullish excitement that prevailed in November. Interesting observations…

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Filed under: News - @ January 5, 2025 7:05 am