9.38 Billion Dogecoin (DOGE) in 24 Hours, Open Interest Blowout Recorded

Dogecoin Signals Bullish Shift Despite Price Fluctuations

Despite recent market volatility, Dogecoin (DOGE) has exhibited bullish indicators. At the time of writing, DOGE has found support at $0.26 and is poised for further growth.

Surge in Open Interest

A critical metric, DOGE's open interest (OI), has witnessed a significant increase in the past 24 hours. According to CoinGlass data, OI has surged to 9.38 billion DOGE, representing $2.47 billion in investments.

This bullish momentum suggests investor confidence in DOGE, despite ongoing price fluctuations. The recent filing of a DOGE ETF may further contribute to a price surge.

Exchanges with High DOGE Activity

Gate.io, Binance, and Bybit have recorded the highest trading activity for DOGE. Gate.io holds a third of the cumulative OI, amounting to $814.26 million. Binance follows with $570.13 million, while Bybit accounts for $450.94 million.

Conclusion

Overall, the surge in open interest and support at $0.26 indicate a potential bullish shift for Dogecoin. While the current price may be slightly down, the coin is positioned to rebound and retest its previous high at $0.40.