Dogecoin Trading Volumes Surge 150% with $0.21 Support Level
Dogecoin price gained momentum on Monday with a 150% increase in trading volumes, following a 10% gain in August, outperforming Bitcoin's 6% decline. DOGE closed August at $0.21.
Key market data includes:
- DOGE futures volumes rose 119% to $5.36 billion
- Open interest decreased by 4.7% to $3.24 billion
- Bullish traders closed $7.61 million in long contracts compared to $2.41 million in shorts
- Short-sellers held $262 million in leverage against $172 million in longs
- Support level established at $0.21 with $42 million in long positions added over the past week
Analyst DogeLord predicts a potential rally of up to 900%, projecting prices could reach $0.34 and possibly retest all-time highs above $2. A failure to hold the $0.21 support may lead to a drop toward $0.17, with stronger support at $0.13.
In related developments, increased trading volumes have led investors to explore multi-chain projects like Best Wallet (BEST), which has raised over $15 million in presale.
Dogecoin Derivatives Market Analysis | Coinglass, September 1, 2025
Best Wallet Presale