Dogecoin Open Interest Surges Past $3B as DOGE Price Eyes $0.24 Breakout Target
The post Dogecoin Open Interest Surges Past $3B as DOGE Price Eyes $0.24 Breakout Target appeared on BitcoinEthereumNews.com.
Key Notes Futures open interest climbed 2.63% above $3.01 billion while trading volume fell 8.9%, indicating traders held leveraged longs. Technical analysis shows DOGE testing moving average resistance at $0.206 with RSI recovering from oversold conditions to 46.70. Breaking above $0.21 could trigger rally toward $0.24 resistance zone, while failure may push price back to $0.188 support. Dogecoin DOGE $0.21 24h volatility: 3.4% Market cap: $30.86 B Vol. 24h: $1.58 B price surged 4% on Monday, August 4, reaching $0.206 after dipping to $0.19 over the weekend. This move was accompanied by a strategic bullish action in the Dogecoin futures markets, signaling more gains ahead. According to Coinglass, Dogecoin Open Interest rose 2.63%, surpassing $3.01 billion, while futures trading volume dropped by 8.9%. The declining volume indicates that most DOGE traders chose to hold their leveraged long positions in the last 24 hours. These dynamics suggest that bullish traders who held their leveraged long DOGE positions through the weekend are now sitting on notable gains. Dogecoin Derivative Markets Data | Coinglass, Aug 4, 2025. Top trader data also reflects this positive shift in market sentiment, with Binance DOGE/USDT long/short accounts at 2.7693 and OKX DOGE long/short accounts reaching 3.89. Meanwhile, top Binance DOGE trader long/short positions stand at 2.8642. These elevated long/short ratios amid over $100 million in intraday capital inflows confirm that top traders are overwhelmingly positioned for upside, further supporting the DOGE price recovery narrative. Dogecoin Price Prediction: Can DOGE Hold Above $0.21 for a Breakout Toward $0.24? Dogecoin price has rebounded 10.75% in two days, clawing back half of the 20% losses from last week. Technical indicators now show DOGE price testing the 5-day simple moving average (SMA) at $0.201, with the upper wick of the daily candle pressing against the 8-day SMA resistance at $0.206. If…
Filed under: News - @ August 4, 2025 8:29 pm