Crypto community stunned by massive Dogecoin surge
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The Dogecoin price may soon trigger a rebound as bullish signals have started to emerge today. The consolidation period has been causing some troubles for traders, but it is likely that positive sentiment will prevail in the coming days. The largest meme coin in terms of market cap is eyeing a potential rally.a huge surge of 52.36% in its trading volume. This surge takes the 24-hour volume to the $1.15 billion level.
In addition, the Options Open Interest of DOGE has also soared 82.66% over the last 24 hours. It is currently at the $169.49K level. This surge in OI indicates an increase of open positions for DOGE as investors have started to turn bullish on the . It is a key metric as a rise in OI typically results in the upward movement in the DOGE price.at $0.1064, after a fall of 1.09% in the past day. While this figure may appear bearish, the meme coin has skyrocketed 24.72% over the last seven days.
This weekly surge is yet another indicator of positive sentiment returning to the Dogecoin market. Consequently, traders are expecting more gains as the meme coin is famous for triggering massive price rallies after brief corrections or consolidation periods.With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
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