Bitcoin
Bitcoin (BTC)
$100,410.00 4.85189
Bitcoin price
Ethereum
Ethereum (ETH)
$3,798.74 6.63383
Ethereum price
BNB
BNB (BNB)
$697.05 5.95685
BNB price
Solana
Solana (SOL)
$229.33 10.56032
Solana price
XRP
XRP (XRP)
$2.44 19.17889
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000288 14.0928
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000248 8.91007
Pepe price
Bonk
Bonk (BONK)
$0.0000389 12.47986
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 12.49414
dogwifhat price
Popcat
Popcat (POPCAT)
$1.26 18.5428
Popcat price
Bitcoin
Bitcoin (BTC)
$100,410.00 4.85189
Bitcoin price
Ethereum
Ethereum (ETH)
$3,798.74 6.63383
Ethereum price
BNB
BNB (BNB)
$697.05 5.95685
BNB price
Solana
Solana (SOL)
$229.33 10.56032
Solana price
XRP
XRP (XRP)
$2.44 19.17889
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000288 14.0928
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000248 8.91007
Pepe price
Bonk
Bonk (BONK)
$0.0000389 12.47986
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 12.49414
dogwifhat price
Popcat
Popcat (POPCAT)
$1.26 18.5428
Popcat price
Bitcoin
Bitcoin (BTC)
$100,410.00 4.85189
Bitcoin price
Ethereum
Ethereum (ETH)
$3,798.74 6.63383
Ethereum price
BNB
BNB (BNB)
$697.05 5.95685
BNB price
Solana
Solana (SOL)
$229.33 10.56032
Solana price
XRP
XRP (XRP)
$2.44 19.17889
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000288 14.0928
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000248 8.91007
Pepe price
Bonk
Bonk (BONK)
$0.0000389 12.47986
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 12.49414
dogwifhat price
Popcat
Popcat (POPCAT)
$1.26 18.5428
Popcat price
Bitcoin
Bitcoin (BTC)
$100,410.00 4.85189
Bitcoin price
Ethereum
Ethereum (ETH)
$3,798.74 6.63383
Ethereum price
BNB
BNB (BNB)
$697.05 5.95685
BNB price
Solana
Solana (SOL)
$229.33 10.56032
Solana price
XRP
XRP (XRP)
$2.44 19.17889
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000288 14.0928
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000248 8.91007
Pepe price
Bonk
Bonk (BONK)
$0.0000389 12.47986
Bonk price
dogwifhat
dogwifhat (WIF)
$3.05 12.49414
dogwifhat price
Popcat
Popcat (POPCAT)
$1.26 18.5428
Popcat price

Dogecoin price pops as volume and open interest surge

dogecoin-price-pops-as-volume-and-open-interest-surge
Edited by
Markets
Dogecoin price pops as volume and open interest surge

Dogecoin price made a strong bullish breakout as investors moved back to meme coins and as Bitcoin crossed $68,000.

Dogecoin (DOGE), the biggest meme coin, rose to $0.1283, its highest level since Sept. 29. It has moved into a bull market after rising by 56% from its lowest point in August.

DOGE’s rally occurred in a high-volume environment. Data from CoinGecko shows it had a 24-hour volume of $2.25 billion, the highest level in over two weeks.

A similar trend happened in the futures market, where open interest rose to over $768 million, its highest level since June 19. Higher open interest is often a sign of increasing demand for a cryptocurrency.

Dogecoin open interest
Dogecoin futures open interest | Source: CoinGlass

Dogecoin’s surge mirrored that of other meme coins, which have performed well in the past few weeks. Bonk (BONK) jumped by 14.2% in the last seven days, while Brett, Neiro, and Cat in a Dog’s World have soared by over 20% in the same period.

It also occurred as interest in cryptocurrencies bounced back. Bitcoin crossed the important resistance point at $68,000 for the first time in weeks. Additionally, investors are moving to Bitcoin, with spot ETFs recording $371 million in inflows on Oct. 16. These funds have now had a net inflow of over $19.7 billion since January.

Meanwhile, Dogecoin price rose as some analysts predicted that Tesla was about to buy DOGE after moving Bitcoins worth $225 million to unknown wallets. Elon Musk has touted Dogecoin in the past, suggesting that this could be a possibility.

Dogecoin nears key resistance

dogecoin price
Dogecoin price chart | Source: TradingView

DOGE has risen for three consecutive days and is hovering at its highest point since Sept. 30.

It has jumped above the 50-day and 200-day Weighted Moving Averages, raising the possibility that it will form a golden cross pattern. Dogecoin soared by over 53% the last time it formed this cross in November.

Dogecoin has also jumped above the ascending trendline, which connects the lowest swings since August. 

Therefore, more gains will be confirmed if the DOGE token rises above the key resistance point at $0.1318, its highest point on Sept. 28. A move above that level will indicate more gains, with the next reference level at $0.1440, its highest level on June 21.