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The price of Dogecoin (DOGE) faces a slight drop in prices that align with the wider trend on the market. However, for Dogecoin, key indicators show sustained interest on the part of certain market players and a short -term rebound potential. Doge’s price was down 3.16 % to $ 0.3,476 at the time of writing, by Coinmarketcap data.
The open interest of Dogecoin triggers confidence
In the middle of the sale, DOGE has crossed two key levels at $ 0.3,579 and $ 0.3,516, respectively. On the 1D graph, analysts monitor the room to see if it can bounce around $ 0.3452.
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The open interest (OI) goes to the forefront with this turn. According to Coringlass data, Dogecoin Oi has seen traders in the long term engage 12.74 DOGE in the last 24 hours. With this figure close to the top of the room, investors are optimistic about a potential rebound in the price of the DOGE.
So far this year, the Dogecoin Prize has been aligned with historical trendsWith growth of 14 % since the start of the year (YTD). Dogecoin remained on the front line because it maintained its ranking among the first 10 digital currencies. He reached this resilience despite the intense volatility of the market as a whole.
With its prospects of sustained open interest and the historic tendency of DOGE, the level of confidence of investors remains high.
DOGE growth catalysts in sight
Dogecoin remains a key pioneer of meme parts in the wider ecosystem of digital currency. As such, it is characterized by intense volatility which can feed a massive recovery in prices. However, this can also have an impact on its growth.
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Doge Also marks a key factor for the price of the room. With an intense accumulation identified in recent weeks, the source of demand for the meme part has solidified. This can help push the part beyond the levels close to the resistance in the coming weeks.
In addition, the pressure in favor FNB Dogecoin can also arouse optimism likely to trigger new price increases in the medium and long term.