Dogecoin (DOGE) extends its gains on Friday after rallying over 16% since Monday.
Dogecoin 's open interest is rising, indicating new buying is occurring.
’s blockchain. Dogecoin extends its gains on Friday after rallying over 16% since Monday. on-chain metrics show positive bias Coinglass’s data shows that the futures’ Open Interest in Dogecoin at exchanges is increasing. Increasing OI represents new or additional money entering the market and new buying, which suggests a bullish trend. When OI decreases, it is usually a sign that the market is liquidating, more investors are leaving, and the current price trend is ending. The graph below shows that Dogecoin’s OI increased from $593.66 million on Wednesday to $889.
’s long-to-short ratio. Source: Coinglass Another aspect bolstering the platform’s bullish outlook is a recent surge in traders’ interest and liquidity in the
Cryptocurrencies Technical Analysis Openinterest
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