Analysts are betting on a high possibility of a price rally for the largest meme coin in the cryptocurrency landscape, as market observers see that Dogecoin is gaining momentum and could be ripe for a price explosion.
Data shows that optimism on the meme coin grew, fueled by an uptick in the coin’s open interest and an ongoing price recovery that led the token to breach its resistance level.
Dogecoin Open Interest Hits $4.7 Billion
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Analysts believe that Dogecoin could potentially experience a rally that would lead to the meme coin hitting the $0.39 level, saying that the token is currently on a recovery mode and gaining momentum.
One of the positive indicators that tell a possible upward trend for DOGE is open interest. Data
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