 ▲ Dogecoin (DOGE) |
Dogecoin (DOGE) has signaled a strong rebound in the memecoin market, approaching a breakout above the $0.15 resistance level, fueled by a sharp surge in open interest and large-scale buying by whales.
According to crypto media outlet U.Today on February 14 (local time), Dogecoin’s open interest jumped 12% in a single day, demonstrating heightened investor interest. The steep rise in open interest indicates a significant influx of new capital into the market and suggests an increase in aggressive leveraged positions. Active movement in the futures market is expected to be a key factor amplifying Dogecoin’s price volatility in the near term.
Dogecoin is currently attempting to break through the psychological resistance level of $0.15, building short-term momentum. Reports that whale investors accumulated approximately 220 million DOGE over the past 24 hours have further strengthened market optimism. The actions of whales, who command substantial capital, reflect confidence in further price gains and often act as a catalyst for retail investors to follow suit.
The total market capitalization of the memecoin sector surpassing $50 billion has also created a favorable environment for Dogecoin’s upward trend. Institutional interest continues to grow, with around $3.9 million in new inflows into spot Dogecoin ETFs. Data from major exchanges show that total Dogecoin open interest is nearing its historical high of $2 billion, suggesting that market participants are positioning themselves for significant price movements ahead.
From a technical analysis perspective, the key determinant of future direction will be whether Dogecoin can firmly break above and maintain support within the $0.14 to $0.15 resistance range. A successful consolidation above this zone could open the door to an additional rally. However, a sharp rise without sufficient trading volume carries the risk of being merely a temporary short squeeze. Investors should closely monitor changes in open interest and capital flows on major exchanges.
The recovery in Dogecoin’s momentum is expected to continue for the time being, in line with improving sentiment across the broader digital asset market. The combination of whale accumulation and heightened futures market activity is likely to further solidify its position as the leading memecoin. However, rapid leverage expansion increases liquidation risks during price declines, making it essential for investors to remain cautious about potential market overheating and adopt prudent investment strategies.
Disclaimer: This article is for investment reference only and we are not responsible for any losses resulting from investment decisions based on it. The content should be interpreted for informational purposes only.