Dogecoin grew by 7% per day

The Dogecoin cryptocurrency DOGE $0.16 Binance-Peg Dogecoin -5.09% Market capitalization $0.42 billion VOL. 24 hours $0.25 billion has increased by 7.3% over the past day, reaching $ 0.174. This jump occurred after falling to a two-week low of $ 0.16, which provoked active buying by investors. The market recovery indicates the potential for further growth, provided that the current demand dynamics continue.

The volume of trading in Dogecoin derivatives has increased sharply: the volume of options has increased by more than 84%, and open interest has reached $ 804 thousand, which indicates that traders are returning to the market. The total daily trading volume rose to $ 1.22 billion, which is a significant shift compared to the previous days.

From a technical standpoint, the chart shows a bullish crossover of the Relative Strength Index (RSI), which signals the dominance of buyers. In addition, the positive ratio of buy to sell orders increases the likelihood of further growth in the value of the asset.

Traders' behavior also demonstrates optimistic sentiment, with 71% of them opening long positions. If the current momentum continues, Dogecoin has a chance to test the $ 0.18 level again and potentially reach $ 0.19 in the near future.

However, if buying activity weakens, a local correction may begin, which will roll back the price to support around $ 0.168. Further dynamics will depend on the overall state of the cryptocurrency market and the behavior of major players.