CandleFocus 8.2 Billion Dogecoin (DOGE) Open Interest Comes With Major Catch
2024-11-11
Author: Content Editor
Dogecoin (DOGE) has experienced a surge in its Open Interest, with an increase of 20.07% in 24 hours, representing a total commitment of 8.28 billion DOGE by futures traders. The majority of this open interest is concentrated on major crypto trading platforms such as Binance, Bybit, and OKX. This rise in open interest suggests increasing confidence from investors and platforms in Dogecoin. The strong market sentiment, combined with the high liquidity, indicates a sustained bullish season for Dogecoin. This bullish trend aligns with the broader cryptocurrency market, which has seen Bitcoin reach new all-time highs. Currently, DOGE has registered a 21.39% price increase and its market volume has surged by 189.37%, cementing its position as the meme coin of the moment. This increased attention has allowed DOGE to surpass XRP and USDC in market capitalization ranking, rising from eighth to sixth place.
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