Dogecoin (DOGE) Targets $0.18 as Open Interest Spikes 25%

Dogecoin (DOGE) Forecasts a Bullish Rally

Dogecoin (DOGE), the widely popular meme cryptocurrency, signals an impending upward surge. The current bullish price action and substantial interest from traders and investors indicate a shift in sentiment from a bear to a bull market.

Technical Analysis and Future Levels

Expert technical analysis suggests a bullish outlook for DOGE, with a strong likelihood of hitting $0.18 in the near future. This speculation stems from a successful breakout and retest of the horizontal resistance at $0.135.

Positive On-Chain Metrics

Dogecoin's bullish trajectory is further supported by positive on-chain metrics. According to Coinglass, a prominent on-chain analytics firm, DOGE's Long/Short ratio stands at 1.044, reflecting a strong bullish sentiment among traders.

Moreover, open interest has surged by 25% in the past 24 hours and 8.56% in the past four hours. This increasing interest indicates a growing confidence in DOGE's future potential.

The combination of bullish on-chain metrics and technical analysis suggests that buyers are currently in control and could drive a rally in the upcoming days.

Current Price Momentum

At the time of writing, DOGE trades close to $0.149, with a price gain of over 7.2% in the past 24 hours. Trading volume has also increased by 155%, highlighting the active participation of traders and investors amid the positive price action.