Dogecoin’s Bullish Momentum Sparks Optimism Among Investors
Dogecoin jumped 9% to $0.34 over the past 24 hours as its trading activity surged 58% to $2.87 billion. The price and trading activity have skyrocketed due to Elon Musk and renewed whale interest in Dogecoin.
As investors anticipate further gains, one factor driving Dogecoin’s potential is its Open Interest in Futures. The memecoin’s Open Interest (OI) in Futures rose from $554 million in October 2024 to $2 billion on January 2, 2025. This bullish momentum has sparked optimism among DOGE investors.
Looking at past price patterns, Dogecoin’s price surged 90x in the 2017 high and 306x in 2021. Analysts now anticipate a similar pattern, with a rally pushing Dogecoin above $20 as momentum builds. With increasing demand and firm support, Dogecoin could deliver another notable surge.#BinanceAlphaAlert