The trading interest in Dogecoin has grown more than 40% in the past day, and this has been another milestone that has set a fresh high not seen since April this year. The current status of the crypto market is in the green as major currencies and altcoins show a bull rally to new heights. Taking the lead are major cryptocurrencies, including Ethereum and Bitcoin. 

Dogecoin에 대한 거래 관심은 지난 하루 동안 40% 이상 증가했으며 이는 올해 4월 이후 볼 수 없었던 새로운 최고치를 경신한 또 다른 이정표였습니다. 주요 통화와 알트코인이 새로운 고점으로 상승세를 보이면서 암호화폐 시장의 현재 상황은 녹색입니다. 이더리움, 비트코인 ​​등 주요 암호화폐가 선두를 달리고 있습니다.

Altcoins, including Dogecoin (DOGE), have been experiencing a spillover from the performance of major currencies that was initially caused by the rising interest in spot exchange-traded funds approval by the US Securities and Exchange Commission (SEC). Increased trading volume was also witnessed in the memecoin’s market value, and here is a breakdown of why. 

Dogecoin’s market performance 

Dogecoin의 시장 성과

An increase in leveraged bets in Dogecoin increased by 12% in a report on Thursday, and the company exclaimed its intentions of sending a physical DOGE to the moon. Still, market experts see a spike in its market price as a general bearish signal. 

목요일 보고서에서 Dogecoin의 레버리지 베팅 증가가 12% 증가했으며 회사는 실제 DOGE를 달에 보내겠다는 의도를 밝혔습니다. 그럼에도 불구하고 시장 전문가들은 시장 가격의 급등을 일반적인 약세 신호로 보고 있습니다.

Following the key metric used in Dogecoin (DOGE) futures, it jumped by 40% in the past 24 hours. This was a high-risk market behavior that was witnessed among traders, and this has also recorded a historically marked local price topping the digital currency market. 

The number of unsettled futures bets has spiked by over 7 billion DOGE tokens as of November 17. These levels haven’t been seen in the past 7 months. However, the positions are currently worth $600 million at the time of writing. 

Half of these bets, approximately $275 million worth of digital asset futures, are initially placed in the Binance crypto exchange. Bybit holds $134 million, and the OKX exchange is at $85 million. Moreover, the long-to-short ratio is tagged at 50% on either side, and this implies that traders may be hedging all their positions.

이 베팅 중 절반인 약 2억 7,500만 달러 상당의 디지털 자산 선물은 처음에 바이낸스 암호화폐 거래소에 배치됩니다. Bybit의 보유액은 1억 3,400만 달러이고 OKX 거래소의 보유 금액은 8,500만 달러입니다. 더욱이, 롱-숏 비율은 양쪽 모두 50%로 표시되어 있으며 이는 거래자가 자신의 모든 포지션을 헤지하고 있을 수 있음을 의미합니다.

Market data analysis on Dogecoin 

Dogecoin의 시장 데이터 분석

According to historical market data, the rise in open interest signals a bullish bias for the cryptocurrency’s underlying futures. Moreover, if the value reaches further heights or suddenly spikes, a bearish signal is considered, indicating a potential structure change or market trend. Traders might be noted to build short positions in light of taking advantage of the market movements. 

The increase in Dogecoin’s open interest outlines the framework for the general market. Other futures that tracked major currencies like Ethereum (ETH) and Bitcoin (BTC) both plummeted by 5%. On Thursday, Dogecoin jumped by over 12% amid reports of a space payload mission. 

The idea was to send a physical replica of the digital currency straight to the moon. The mission was planned by a Pittsburgh-based firm called Astrobotic, and the agenda was reaching the Earth’s moon and deploying a DOGE token in December 2023. 

아이디어는 디지털 통화의 물리적 복제본을 달에 직접 보내는 것이 었습니다. 이 임무는 피츠버그에 본사를 둔 Astrobotic이라는 회사에 의해 계획되었으며, 의제는 2023년 12월 지구의 달에 도달하고 DOGE 토큰을 배포하는 것이었습니다.

Currently, based on the crypto market sentiments, it’s possible that the DOGE price will retrace to its levels to the downside. This could be an issue that is also already anticipated by experts, showing a sight of a bearish market rally in the future. 

Additionally, the market data analysis shows that DOGE is currently up by 6.26% in the past 24 hours at the time of writing. During this time, its price was tagged at $0.08426, and its daily trading volume stood at a staggering 83.56%. Its market cap also increased by 6.27%. 

Analyzing the past month, its price has soared by 43.34%, and these gains also confirm a declining signal for the memecoin. It’s possible that these sentiments might be true, but it’s yet to be discovered. 

지난 한 달을 분석해 보면 가격이 43.34% 급등했으며 이러한 상승세는 밈코인의 하락 신호를 확인시켜 줍니다. 이러한 감정이 사실일 수도 있지만 아직 밝혀지지 않았습니다.