With major participants joining the rebound, Dogecoin momentum is strong 🔥🔥🔥

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Dogecoin's historic highlights in January

Statistics reveal that January is usually one of the months where Dogecoin shines the most. Historical data shows that the average return rate in this month can reach as high as 85%, with astonishing increases of 250% to even 700% recorded. However, not every January has been so brilliant, as the performance in certain years has been relatively flat, with an average return rate of only 5%.

Dogecoin - Surge in open interest in the futures market

The active performance in the futures market has further propelled this trend, with the number of open contracts reaching a historic 10.35 billion DOGE, indicating that new capital is flowing into the market. A large number of open contracts suggests that the upward trend may continue and could bring about higher market volatility.

Technical indicators support price increase

In the short term, Dogecoin's price is expected to reach 50 cents. Analysts point out that "Dogecoin successfully broke through the 50-day simple moving average, indicating the arrival of market recovery." At the same time, it is noted that the price gap between Binance and CB is a positive signal for the market, but it should be noted that the current trading volume is still insufficient compared to the previous rebound phase.

Dogecoin reaching a market value of 100 billion dollars by 2025 would become a historical legend. It is also pointed out that such a market value would rival the cuts in public finance.

The future direction of Dogecoin seems to be influenced by multiple factors such as the movements of large investors, futures trading, and technical indicators.

Additionally, Elon Musk's positive remarks continue to spur market enthusiasm. Thus, it is evident that Dogecoin's important position in the cryptocurrency field remains solid.

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