Dogecoin Price- DOGE Futures Open Interest Surges 67%
Dogecoin Price– Dogecoin (DOGE) is signaling a potential upward move as technical indicators and on-chain data align bullishly. Trading above $0.21, DOGE is forming a textbook double bottom pattern on the daily chart, a historically reliable reversal signal. This pattern has appeared after DOGE broke out from a long-term descending channel, confirming a momentum shift.
Following this breakout, DOGE has entered a consolidation phase between $0.19 and $0.21, which looks like a healthy retest. A clear move above $0.21 could pave the way to $0.25, completing the double bottom pattern and targeting $0.48 — levels last seen in December 2024.
On the weekly chart, DOGE is trading inside an ascending broadening wedge, a pattern known for parabolic breakouts. Analyst Trader Tardigrade suggests this could lead to a 300% rally once DOGE surpasses $0.25, with $1 becoming a realistic long-term goal after breaking the $0.47 resistance.
From an on-chain perspective, DOGE futures open interest jumped 67% in July, signaling increased speculative activity. Despite this, funding rates remain neutral, showing no market overheating. Spot market volume and net buying pressure are also rising steadily, indicating strong demand. Additionally, long-term holders’ sentiment has shifted into an optimism-anxiety zone, historically a precursor to major rallies.
If DOGE breaks above $0.21 decisively, it could trigger a significant upward trend, making it one of 2025’s most exciting memecoins.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
