Open Interest Tembus US$800 Juta, Harga Dogecoin Melejit

Dogecoin Surges Amid Strong Bullish Signals

Dogecoin (DOGE), the leading meme cryptocurrency, has made a strong comeback in the market with a significant price surge over the past 24 hours. The rally is expected to continue with increased trading volume and strong investor interest.

"Dogecoin price ready to rally: on-chain metrics show bullish bias!" tweeted popular crypto YouTuber CryptoJack.

Increasing Open Interest

One key metric that has come into focus is the open interest for DOGE futures contracts.

According to a chart shared by CryptoJack, DOGE's open interest has reached around $800 million, reflecting a sharp increase in recent times. The chart shows that previous peaks in DOGE's open interest occurred in early June and mid-October. This indicates strong bullish sentiment among crypto traders who are betting on the leading memecoin. The data suggests that Dogecoin could be poised for a significant rally as investors capitalize on the upward price momentum.

Price Surge and Volume Spike

In the past 24 hours alone, Dogecoin's price has jumped by 12.01%, reaching $0.1359. The price increase has been accompanied by a surge in daily trading volume, which has also risen by over 50% to $2.21 billion.

This surge clearly indicates renewed interest in Dogecoin, with active trading volumes across crypto exchanges.

Market Cap Nears $20 Billion

The price and volume surge has had a direct impact on Dogecoin's market capitalization, which is now approaching $20 billion. This figure is significant as it represents the total value of DOGE assets traded in the market. With investor interest continuing to rise, the market cap seems poised to break through this milestone in the near future.

Increase in Active Dogecoin Addresses

Beyond price and volume, Dogecoin has also seen a surge in its number of active addresses. Recently, the number of active DOGE addresses jumped to 133,880, the highest level in eight months.

This indicates that more users are becoming active on the Dogecoin network, strengthening the network and suggesting that the meme token is entering a growth phase worth watching.

With all these bullish indicators, from price to volume, open interest, and active addresses, Dogecoin is showing strong signals of continuing its upward momentum. Watch this space.