Mastiff (DOGE), one of the main parts of memes, has climbed more $ 2 billion in the negotiation volume in the last 24 hours. Data De CoinMarketCap shows that Dogine’s negotiation volume increased by 86.79% to reach $ 2.03 billion.
Dogecoin Trading Volume Pikes despite the drop in prices
This increase in investors’ interest in the memes part occurred despite a price price of $ 0.2564 to a minimum of $ 0.2349. DOGE has been on a slide down in the last 36 hours before taking a break to continue a movement laterally.
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This performance has not discouraged investors from actively negotiating the token. A development that market observers believe could put Dogecoin on a rebound path if he supports the current momentum.
Interestingly, despite a drop of 29.72% in the last 30 days, Doge has found a level of critical support. During this period of mass loss, Doge managed to stay above the bar of $ 0.22.
Analysts say that this support is crucial for the return of Dogecoin. To try to go up, Doge must take enough momentum to overcome several levels of resistance.
In particular, DOGE has undergone repeated refusals at $ 0.27 and $ 0.30 for the last 30 days.
Analysts are optimistic that the memes play could stage a massive rebound if Doge erases these obstacles.
Regulatory developments feeling of the fuel market
As reported By U.TODAY, there was an increase in open interest in DOGE, signaling a bullish feeling. Dogecoin’s open interest increased to 9.38 billion Doge while investors have decided to increase their total open position in the memes room.
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Analysts claim that an increase in open interest and an increase in the volume of negotiation could cause positive development. This is particularly true when the momentum does not reverse the trend.
Meanwhile, the Dogecoin community has sufficient positive news from the Securities and Exchange Commission (SEC) to fuel bullish feelings. Dry recognized Graycale exchange fund (ETF), bringing the product closer to approval. If it is approved, it could inaugurate institutional investors, a future development that could have a positive impact on the price.