Dogecoin Price Surges 3% to $0.38 with Increased Trading Volume
Dogecoin (DOGE) has increased by 3% to $0.38 amid overall crypto market recovery, with daily trading volumes rising 18% to over $4 billion. Technical analysis indicates a potential setup similar to the 2021 bull run.
- Price experienced a 46% correction recently
- Open interest in DOGE futures rose by 6.3% to $4.73 billion
- Price holds above key resistance at $0.36
- Speculative interest may increase as Donald Trump's inauguration approaches
The recent surge in open interest includes $570 million in new positions within three days, suggesting strong trader confidence. The current total open interest exceeds price gains, indicating expectations of further upward movement.
Price Projections
- Breakthrough of $0.4007 could lead to gains toward $0.45
- Failure to maintain levels above $0.35 may result in bearish risks
- If patterns repeat, a rally could potentially reach $3.00
