After Bitcoin rebounded above the $76,000 level last week, Dogecoin price also saw a notable increase, rising more than 10% in a 7-day period. This naturally led to increased interest in the meme currency and its translation into a An increase in her open interests. While this initial rally was bullish, it now begs the question of whether digital assets will be able to sustain this trajectory or risk another collapse.
Dogecoin’s open interest hits two-month high
When the price of Dogecoin rose above $0.1 recently, this happened Open interest It rose rapidly at the same time. The result of this rise was that open interest rose to levels not seen in more than two months. This has pushed it towards the highest levels recorded in January 2026, marking a marked change from the weak performance of the past two months.
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according to Data From on-chain tracking site Coinglass, Dogecoin’s open interest reached over $1.4 billion at its highest levels. Although there has been a decline from this level, Dogecoin’s open interest is still above the $1.2 billion mark, showing continued interest in trading the meme coin.
Typically, a rise in open interest is associated with a rise in the price of the asset. So if it is Dogecoin price continues its upward trajectorythe rise in open interest could continue. However, if the price of DOGE declines, open interest may decline again.
Lower DOGE volume could be good for the price
There has been a decline Dogecoin size As it appears that the price has trended lower again. But cryptocurrency analyst The Alchemist Trader He explains That could be a good thing for the price. In analysis, the analyst refers to this phase as a consolidation phase.
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Consolidation phases usually precede big moves, given the fact that… Dogecoin price maintained support Above $0.07, the cryptocurrency analyst believes the trend is likely to be bullish. This will occur with an influx of new volume and could lead to a bullish breakout.
Once this happens, the analyst’s chart indicates that… Dogecoin price could see an increase of more than 40% as a result of. Such a move would put the price of the men coin above the $1.4 level. “From a technical point of view, as long as Dogecoin remains above the $0.07 support level, the structure remains favorable for an upward breakout,” the analyst stated. “This level acts as a key basis for buyers, and maintaining support here keeps the bullish scenario intact.
Featured image from Dall.E, chart from TradingView.com
