Cryptocurrency analyst Shelby stated in a post on July 20 that DOGE is ready for an aggressive rise. Shelby said that this rise could also have positive effects for other memecoins, Floki (FLOKI) and Shiba Inu (SHIB). Other analysts Cheds and CryptoBoss also pointed out a significant upward potential by drawing attention to DOGE's bottom break. On the other hand, analyst Magnate warned investors not to get caught up in FOMO and stated that lower prices may occur with a possible withdrawal. Magnate stated that he expects the price to drop to $0.1194, which could result in a large liquidation of long positions. Open Interest is at its Highest Level in July

Dogecoin's Open Interest (OI) rose 19 percent to $647.19 million in the last four days, reaching its highest level in July. This data provided by CoinGlass shows that investor interest in DOGE has increased. The increase in OI and price rise also caused significant changes in market sentiment indicators.

The Crypto Fear and Greed Index shows that market sentiment has greatly increased. The indicator currently stands at 74, on the “Greed” threshold. Just last week it was at the "Extreme Fear" threshold, at 33.

Key Takeaways for Dogecoin Investors

Avoid getting caught up in FOMO during price fluctuations.

Follow important support and resistance levels of Dogecoin's price.

Observe movements associated with other memecoins (FLOKI, SHIB).

Analyze indicators such as Open Interest (OI) and Crypto Fear and Greed Index.

In conclusion, although Dogecoin's rise is generating great interest among investors, caution should be exercised as to whether this rise is permanent. It is critical to invest by taking into account analysts' warnings and constantly monitoring market indicators.