DOGECOIN (DOGE) Traders make movements on the market, with open interests reaching $ 2.37 billion.
According to Coinglass dataOpen interest in the original room increased by 3.03% in the last 24 hours, reaching $ 2,376,500,726 ($ 2.37 billion). After reaching a record summit of $ 5.42 billion on January 18, Dogecoin’s open interest fell to $ 2.26 billion on February 10, almost where he is now, although he had a slight increase.
Open interest refers to the total amount of unstable derivative contracts. An increase in open interest may indicate new money in the market, perhaps confirming existing price trends and predicting future volatility.
Dogecoin’s price is now $ 0.2569 per room after diving at low $ 0.255. The price decreased by around 2% last week.
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Cryptographic markets attend slow price actions in a reduction in optimism for the relaxation of the Fed. The report on the January consumer price index showed a monthly gain of 0.5%, increasing the annual inflation rate to 3%, a key higher than that of December and slightly lower than the figure of 3, 1% in January 2024.
Dogecoin price action
Dogecoin slipped into a descending channel model, but the bulls will try to hold the support of $ 0.23.
The emergency rally could sell $ 0.28. If Dogecoin falls from here, it could suggest that the bears remain in charge. The sellers will then make another attempt to bring Dogecoin back to $ 0.20.
Instead, a break and a closure greater than $ 0.28 indicate solid purchases near the support line. Dogecoin can then switch to SMA from 50 days to $ 0.32, where bears should launch a robust defense.