Despite its continuous price fluctuations in the last seven days, Mastiff (DOGE) reported a potentially bullish change. DOGE found support at $ 0.26 to reach higher levels. The same corner was struggling to stabilize in his attempt to retest the mark of $ 0.40 he struck in December 2024.
Dogecoin bruise signal despite price volatility
Despite Doge’s fluctuations, it seems likely that price dynamics can change for the ecosystem. A critical metric, the open interest of the room (OI) has witnessed an astounding increase in the last 24 hours.
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According to Rinsing Data, the open interests of Dogecoin increased to 9.38 billion DOGE while investors increased their total open positions in the memes room. This represents $ 2.47 billion in funds invested by market players in the last 24 hours.
Analysts consider this bullish impulse and an indication of investors’ confidence in DOGE despite its current price fluctuations. If this renewed interest and the news of a DOGE ETF The deposit with the regulatory authority could trigger prices overvoltage remains to be seen.
Interestingly, in the last four hours, Doge’s open interest has increased by 1.77% while investors remain investment in Dogecoin.
When writing these lines, the Doge’s price was trade Lightly down 2.34% to $ 0.2647. However, the piece even rebounded at a hollow of $ 0.2592 because it is ready to retrace its path up.
Exchanges with a heavy doge trading activity
Meanwhile, the data show that Gate.io, Binance and Bybit Crypto Exchange have recorded the highest activities of traders.
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Gate.io had almost a third of the cumulative interest of open Doge, with 3.10 billion Doge amounting to $ 814.26 million. Binance followed with 2.17 billion DOGE, or 23.11%, which is equivalent to $ 570.13 million. Bybit recorded 1.72 billion DOGE, or 18.28% of open interest, or 450.94 million dollars.
Bitget, OKX, bingx and hyperliquid recorded an open interest in hundreds of millions. Their total Doge was 982.34 million, 735.47 million, 330.35 million and 198.44 million, respectively.