Dogecoin Open Interest Averages $2 Billion in June Amid Price Struggles
Dogecoin's open interest has decreased to approximately $2 billion in June, down from a peak of $3.07 billion on May 11 when its price reached $0.25. Currently, DOGE struggles below the key psychological level of $0.2, indicating bearish sentiment.
Key Points
- Open interest drop reflects declining investor interest due to falling prices.
- This month's average remains above levels recorded in March and April when DOGE fell to $0.14.
- Analysts suggest potential for a bullish reversal, with predictions of a bounce back to around $0.26420.
- Current DOGE price is approximately $0.18, down over 3% in the last 24 hours.
- Long-term projections indicate a possible rise to $30 by 2029.
