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So is the cryptographic market Back it up again After a recent decrease like a clock device, the price has begun to be pushed again. Interestingly This new momentum I've seen Dogecoin's open interest flip from negative values to positive values. As the prices of MEME Coin gain traction, the trader is once again poured into the derivative market, boosting over $ 4 billion.
DOGECOIN has a rapid increase in open interest with market revival
According to Data from Coinglass, DOGECOIN's complete interest has risen over $ 4 billion and has revived trading activities. This comes after the Dogecoin price Rebounded for $ 0.31 We supported multiple years support again and started moving up again.
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Interestingly, coinglass data indicates that DOGECOIN's open interest has increased by 3.11 % to 3.11 % in the past 24 hours and 4 hours. This change suggests that the trader is watching the dogcoin again as a promising asset in leverage -play.
The most notable DOGE open interest is in Gate.io Exchange, which increased 5.14 % in the past 24 hours. As a result, the total amount was $ 1.64 billion, accounting for 41 % of the total interest rate. Bitget and Bingx have witnessed a remarkable rise in Dogecoin's open interests, which increased 6.41 %, 6.41 %, respectively, in the past 24 hours.
On the other hand, Binance, It has not yet changed to a positive open interest. The world's largest encryption exchange is still-0.13 % of the open interest rate in the past 24 hours, but has increased +1.41 % in the past 4 hours, which has been in danger of positive ratio.
Increasing leverage can lead to more volatility.
The rise in open interest means opening a leveraged position for more traders. Swing in both directions. Interestingly, DOGECOIN often experiences strong prices during the growing period of open interest. This means that the latest increase alone has increased the number of market participation in Dogecoin.
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If you continue to be bullish, participate in this market It may promote the price of Dogecoin In the short term, it rises further within $ 0.30 to $ 0.4. However, if DOGECOIN re -test support for $ 0.31, the possibility of more liquidation increases.
At the time of writing, Dogecoin has been trading for $ 0.3316, marking 7 % since the multi -weekly support was bounced off $ 0.31. The next step of the Memcoin is Recently developed The candle resistance of the candle is $ 0.3316, and if it continues to be maintained, it may open a way to the opposite momentum.
Special image of Istock, TradingView.com chart
