$1.15 Billion Dogecoin (DOGE) in 24 Hours, What Happened?
Release: 2024/08/12 20:55 Reading: 992
Dogecoin Price Poised for Bullish Breakout
Cover image via U.Today
The Dogecoin (DOGE) price is poised for a potential rebound, as bullish signals have emerged recently.
Surging Trading Volume
DOGE's trading volume has witnessed a massive 52.36% surge, pushing the 24-hour volume to $1.15 billion. This indicates a resurgence of bullish sentiment, as investors show increased interest in the meme coin.
Rising Options Open Interest
The Options Open Interest (OI) for DOGE has also surged 82.66% over the past 24 hours, reaching $169.49K. This surge suggests an increase in open positions, reflecting investors' growing bullishness.
Recent Performance
Dogecoin is currently trading at $0.1064, down 1.09% from the previous day. However, despite this slight dip, the meme coin has surged 24.72% over the past week. DOGE has shed its recent losses and removed a zero from its price.
Positive Sentiment
The weekly surge in DOGE's price is another indicator of positive sentiment returning to the market. Traders anticipate further gains, as the meme coin has a history of triggering significant price rallies after brief corrections or consolidation periods.
In summary, Dogecoin's bullish signals, combined with its recent performance and positive sentiment, suggest that the meme coin is poised for a potential breakout.
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