Dogecoin Open Interest Surges Past $3B as DOGE Price Eyes $0.24 Breakout Target
Dogecoin jumped 4% to $0.206 on Monday after weekend lows, supported by rising futures open interest and declining volume. Technical indicators suggest potential for further gains if DOGE breaks above key resistance levels.
According to Coinglass, Dogecoin Open Interest rose 2.63%, surpassing $3.01 billion, while futures trading volume dropped by 8.9%. The declining volume indicates that most DOGE traders chose to hold their leveraged long positions in the last 24 hours.
These dynamics suggest that bullish traders who held their leveraged long DOGE positions through the weekend are now sitting on notable gains.
Dogecoin Derivative Markets Data | Coinglass, Aug 4, 2025.
Top trader data also reflects this positive shift in market sentiment, with Binance DOGE/USDT long/short accounts at 2.7693 and OKX DOGE long/short accounts reaching 3.89. Meanwhile, top Binance DOGE trader long/short positions stand at 2.8642.
These elevated long/short ratios amid over $100 million in intraday capital inflows confirm that top traders are overwhelmingly positioned for upside, further supporting the DOGE price recovery narrative.
Dogecoin Price Prediction: Can DOGE Hold Above $0.21 for a Breakout Toward $0.24?
Dogecoin price has rebounded 10.75% in two days, clawing back half of the 20% losses from last week. Technical indicators now show DOGE price testing the 5-day simple moving average (SMA) at $0.201, with the upper wick of the daily candle pressing against the 8-day SMA resistance at $0.206.
If DOGE breaks above the 13-day SMA at $0.20958, this could open the path toward a retest of the $0.24 resistance zone and confirm a full recovery from the recent downtrend.
Dogecoin Price Forecast | DOGEUSD
Further validating the bullish narrative, Dogecoin RSI currently stands at 46.70, up from a weekend low of 39, signaling neutral momentum with room to run before overbought conditions. Conversely, if DOGE fails to close above $0.21 in the next 24 hours, sellers could resume control. A rejection could send the price back toward the $0.188 zone.
In summary, the current Dogecoin price setup favors the bulls short-term, but needs sustained consolidation above the $0.21 area to reclaim higher ground toward $0.24.
Best Wallet Presale Gains Momentum as Dogecoin Traders Eye Next Move
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Best Wallet Presale
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
I’m a research analyst with experience supporting Web3 startups and financial organizations through data-driven insights and strategic analysis. My goal is to help organizations make smarter decisions by bridging the gap between traditional finance and blockchain innovation.
With a background in Economics, I bring a solid understanding of market dynamics, financial systems, and the broader economic forces shaping the crypto industry. I’m currently pursuing a Master’s degree in Blockchain and Distributed Ledger Technologies at the University of Malta, where I’m expanding my expertise in decentralized systems, smart contracts, and real-world blockchain applications.
I’m especially interested in project evaluation, tokenomics, and ecosystem growth strategies, as these are areas where innovation can drive lasting impact. By combining my academic foundation with hands-on experience, I aim to provide meaningful insights that add value to both the financial and blockchain sectors.
