The Dogecoin open interest has seen a good amount of growth over the last few months, culminating in the total finally crossing the $500 million threshold. However, the price of the meme coin continues to trend low, which begs the question of whether the DOGE price is looking to put on a delayed rally.

Dogecoin 미결제약정은 지난 몇 달 동안 상당한 성장을 보였으며 마침내 총 금액이 5억 달러 기준을 넘었습니다. 그러나 밈코인의 가격은 계속해서 낮은 추세를 보이고 있어 DOGE 가격이 지연된 반등을 기대하고 있는지 의문이 듭니다.

Dogecoin Open Interest Climbs Above $500 Million

Dogecoin 미결제약정이 5억 달러 이상으로 상승

According to data from CoinGlass, the Dogecoin open interest has successfully crossed the $450 million level. This is not the first time that the open interest has been this high and the historical performance during times like these could suggest a rapid increase in the DOGE price is on the way.

CoinGlass의 데이터에 따르면 Dogecoin 미결제약정이 4억 5천만 달러 수준을 성공적으로 넘었습니다. 미결제약정이 이렇게 높은 것은 이번이 처음이 아니며, 이와 같은 시기의 역사적 성과는 DOGE 가격의 급격한 상승이 진행 중임을 시사할 수 있습니다.

The open interest which refers to the total number of futures or options contracts in the Dogecoin market tells us the amount of money that investors are throwing into DOGE derivatives at this time. The bets on the cryptocurrency can either be long or short. But a recurring theme is that price usually rises when the open interest increases.

The marked increase in the Dogecoin open interest first began in late October, going from its October lows of $226 million to as high as $375 million before the month was over. This trend continued into the month of November when the open interest ran above $500 million. However, the price has not followed in its usual manner.

Dogecoin 미결제약정의 눈에 띄는 증가는 10월 말에 처음 시작되어 10월 최저치인 2억 2,600만 달러에서 한 달이 끝나기 전 최고 3억 7,500만 달러까지 증가했습니다. 이러한 추세는 미결제약정이 5억 달러를 넘은 11월까지 계속되었습니다. 그러나 가격은 평소대로 따르지 않았습니다.

Delayed DOGE Rally Could Trigger Return Above $0.2

It is no secret that the price of Dogecoin has not performed as well as some other altcoins in the market over the past month. This comes even amid new milestones and network growth for the meme coin. For example, the total Dogecoin holder count finally crossed 5 million, and there has been a lot of growth in its network usage. But none of these have been reflected in the price.

This suggests that DOGE is currently holding out for a delayed rally and it is not out of the ordinary as DOGE has been known to rally outside of the general crypto market trend. So as the crypto market recovery nears what looks to be a wind-down, it could signal that it is time for Dogecoin to shine.

Using the performances of the likes of Solana (SOL) over the last month, DOGE could be looking at the $0.2 target. As crypto analyst Ali Martinez points out, the altcoin is facing significant resistance at $0.87. But once DOGE clears this resistance, then the price could easily double from here.

지난 달 Solana(SOL)와 같은 성과를 활용하여 DOGE는 $0.2 목표를 달성할 수 있었습니다. 암호화폐 분석가 알리 마르티네즈(Ali Martinez)가 지적했듯이 알트코인은 0.87달러로 상당한 저항에 직면해 있습니다. 그러나 일단 DOGE가 이 저항을 제거하면 가격은 여기에서 쉽게 두 배가 될 수 있습니다.