Dogecoin's open interest has surged nearly 50% in just five days, according to CoinGlass data, rising from $2 billion to $3 billion before stabilizing at $2.89 billion. The price of Dogecoin, currently at $0.3836, has jumped 20.1% over the past week, according to CoinGecko.
With a market capitalization of $56.76 billion, Dogecoin now ranks as the seventh-largest cryptocurrency, surpassing USDC's $45.57 billion valuation. The surge in open interest signals heightened trader activity and growing optimism around Dogecoin's price trajectory.
Traders and investors are closely monitoring these developments, as Dogecoin continues to strengthen its position in the crypto market.
