{"id":677007,"date":"2025-01-16T20:00:19","date_gmt":"2025-01-16T20:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=677007"},"modified":"2025-01-16T14:01:30","modified_gmt":"2025-01-16T14:01:30","slug":"dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/dogecoin-2\/dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price\/","title":{"rendered":"Dogecoin Open Interest Spikes To Nearly $5 Billion – Impact On Price"},"content":{"rendered":"

Analysts are betting on a high possibility of a price rally for the largest meme coin in the cryptocurrency landscape, as market observers see that Dogecoin<\/a> is gaining momentum and could be ripe for a price explosion.<\/p>\n

Data shows that optimism on the meme coin grew, fueled by an uptick in the coin’s open interest and an ongoing price recovery that led the token to breach its resistance level.<\/p>\n

Related Reading: Ethereum Whales Absorb $1 Million Loss As Market Caution Intensifies<\/a><\/div>\n

Dogecoin Open Interest Hits $4.7 Billion<\/strong><\/h2>\n

Analysts believe that Dogecoin could potentially experience a rally that would lead to the meme coin hitting the $0.39 level, saying that the token is currently on a recovery mode and gaining momentum.<\/p>\n

One of the positive indicators that tell a possible upward trend for DOGE is open interest. Data show that there is growth in the open interest in the token.<\/p>\n

According to CoinGlass, open interest in Dogecoin surged by nearly 10% in the last 24 hours, allowing the meme coin to hit $4.74 billion.<\/a><\/p>\n

\"\"
Dogecoin Open Interest breaks the $4 billion level. Source: Coinglass<\/a><\/figcaption><\/figure>\n

Meanwhile, a crypto analyst noted that the long-to-short ratio of 0.9964 might show a slightly higher number of bearish positions. Still, the token is on the positive side in terms of volume-weighted funding rate which has increased by 0.0098% — an indicator that investors are willing to pay a premium to maintain their bullish positions.<\/p>\n

Overall, analysts are confident that the derivatives data points suggest that the upward movement for the largest meme coin would continue.<\/p>\n

Remaining Above The Fibonacci Support Level<\/strong><\/h2>\n

Crypto analysts noted that DOGE reached a price of $0.31385, which remains above its 23.62% Fibonacci support level. They highlighted that while DOGE initially faced strong bearish pressure, the token managed to recover and gain bullish momentum.<\/p>\n

DOGE is currently trading at $0.37. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Market observers said that data indicated that the price of DOGE soared to near the 50% Fibonacci level, trading at $0.3675 and seeing a series of consecutive bullish candles.<\/p>\n

Dogecoin climbed above the 200 EMA line and reached the 38% Fibonacci level, driving the higher likelihood of positive crossovers for the token.<\/p>\n

Moreover, indicators highlighted that DOGE has reached its overbought boundary in its 4-hour RSI, supporting the chances that the token will continue to surge.<\/p>\n

As of press time, Dogecoin is being traded at $0.3776<\/a> with a total market capitalization of $55 billion. DOGE is up 3.1% and 15.8% in the daily and weekly frames, data from Coingecko shows.<\/p>\n

Related Reading: Expert Sees Bitcoin Dipping To $50K While Bullish Momentum Persists<\/a><\/div>\n

Is $0.39 Within Range?<\/strong><\/h3>\n

Analysts suggested that many indicators are showing that Dogecoin is gaining strength which could propel it to $0.39 per coin.<\/p>\n

DOGE continues to dominate its segment of the crypto landscape at about 50%, surpassing the psychological resistance level of $0.35.<\/p>\n

Crypto observers noted a 5% increase in the altcoin market, another metric that could help Dogecoin with its upward trend.<\/p>\n

Featured image from Cybernews, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts are betting on a high possibility of a price rally for the largest meme coin in the cryptocurrency landscape, as market observers see that Dogecoin is gaining momentum and could be ripe for a price explosion. Data shows that optimism on the meme coin grew, fueled by an uptick in the coin’s open interest and an ongoing price recovery that led the token to breach its resistance level. Related Reading: Ethereum Whales Absorb $1 Million Loss As Market Caution Intensifies Dogecoin Open Interest Hits $4.7 Billion Analysts believe that Dogecoin could potentially experience a rally that would lead to the meme coin hitting the $0.39 level, saying that the token is currently on a recovery mode and gaining momentum. One of the positive indicators that tell a possible upward trend for DOGE is open interest. Data show that there is growth in the open interest in the token. According to CoinGlass, open interest in Dogecoin surged by nearly 10% in the last 24 hours, allowing the meme coin to hit $4.74 billion. Meanwhile, a crypto analyst noted that the long-to-short ratio of 0.9964 might show a slightly higher number of bearish positions. Still, the token is on the positive side in terms of volume-weighted funding rate which has increased by 0.0098% — an indicator that investors are willing to pay a premium to maintain their bullish positions. Overall, analysts are confident that the derivatives data points suggest that the upward movement for the largest meme coin would continue. Remaining Above The Fibonacci Support Level Crypto analysts noted that DOGE reached a price of $0.31385, which remains above its 23.62% Fibonacci support level. They highlighted that while DOGE initially faced strong bearish pressure, the token managed to recover and gain bullish momentum. Market observers said that data indicated that the price of DOGE soared to near the 50% Fibonacci level, trading at $0.3675 and seeing a series of consecutive bullish candles. Dogecoin climbed above the 200 EMA line and reached the 38% Fibonacci level, driving the higher likelihood of positive crossovers for the token. Moreover, indicators highlighted that DOGE has reached its overbought boundary in its 4-hour RSI, supporting the chances that the token will continue to surge. As of press time, Dogecoin is being traded at $0.3776 with a total market capitalization of $55 billion. DOGE is up 3.1% and 15.8% in the daily and weekly frames, data from Coingecko shows. Related Reading: Expert Sees Bitcoin Dipping To $50K While Bullish Momentum Persists Is $0.39 Within Range? Analysts suggested that many indicators are showing that Dogecoin is gaining strength which could propel it to $0.39 per coin. DOGE continues to dominate its segment of the crypto landscape at about 50%, surpassing the psychological resistance level of $0.35. Crypto observers noted a 5% increase in the altcoin market, another metric that could help Dogecoin with its upward trend. Featured image from Cybernews, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":677020,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86147],"tags":[142,6664,1785,7,83767,54146],"class_list":["post-677007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin-2","tag-altcoins","tag-crypto","tag-doge","tag-dogecoin","tag-meme-coins","tag-open-interest"],"acf":[],"yoast_head":"\nDogecoin Open Interest Spikes To $5 Billion - Impact On Price<\/title>\n<meta name=\"description\" content=\"Analysts are betting on a high possibility of a price rally for the largest meme coin in the cryptocurrency landscape, as market observers see that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/dogecoin-2\/dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Open Interest Spikes To $5 Billion - 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Open Interest Spikes To Nearly $5 Billion – Impact On Price","url":"http:\/\/wncen.com\/dogecoin-2\/dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/dogecoin-2\/dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/a_519001.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/a_519001.jpg?fit=1190%2C660"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","doge","dogecoin","meme coins","open interest"],"dateCreated":"2025-01-16T20:00:19Z","datePublished":"2025-01-16T20:00:19Z","dateModified":"2025-01-16T20:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Open Interest Spikes To Nearly $5 Billion – Impact On Price\",\"url\":\"http:\\\/\\\/wncen.com\\\/dogecoin-2\\\/dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/dogecoin-2\\\/dogecoin-open-interest-spikes-to-nearly-5-billion-impact-on-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/a_519001.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/a_519001.jpg?fit=1190%2C660\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"doge\",\"dogecoin\",\"meme coins\",\"open interest\"],\"dateCreated\":\"2025-01-16T20:00:19Z\",\"datePublished\":\"2025-01-16T20:00:19Z\",\"dateModified\":\"2025-01-16T20:00:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/a_519001.jpg?fit=1190%2C660","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/677007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=677007"}],"version-history":[{"count":8,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/677007\/revisions"}],"predecessor-version":[{"id":677063,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/677007\/revisions\/677063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/677020"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=677007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=677007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=677007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}