Dogecoin Open Interest Hits $1.73 Billion, Analysts Predict DOGE to Soar up to 1200%!

Jakarta, Pintu News – Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- recently recorded a 10% price increase to IDR 3,115, its highest value in two weeks. This rise coincided with an increase in the crypto market’s Fear and Greed index from 30 to 45 on March 24, signaling a change in market sentiment.

Analysts now believe that the Dogecoin rally may have just begun, as historical patterns show that the meme coin has the potential to rise up to 1200%. If history repeats itself, could Dogecoin finally break $2 for the first time?

Dogecoin (DOGE) Price Increase Prediction Analysis

Read also: Dogecoin Skyrockets 7% Today – Experts Say a Mind-Blowing 12x Surge Could Be Coming Soon

Dogecoin’s price is predicted to surge by almost 1200% according to renowned market analyst Javon Marks. He stated that over the years, DOGE has entered its third bull cycle.

If the current uptrend continues as buying activity increases, the nearest resistance level is at $0.569. If the price manages to break this level, a potential parabolic price increase could take DOGE towards the 161.8% Fibonacci level of $2.28.

Another popular analyst, Ali Chart, also expressed an optimistic view on DOGE. He highlighted that the narrowing of the Bollinger Bands signals the possibility of an imminent large price movement.

With various top analysts predicting that DOGE will experience a bullish breakout, retail trading activity is expected to increase sharply.

Meanwhile, data from the DOGE derivatives market shows that traders are bracing for a big price move from DOGE.

Dogecoin (DOGE) Open Interest Reaches New Peak

Data from Coinglass shows that Dogecoin’s open interest (OI) is surging, indicating that traders are opening new positions.

Over the past two weeks, OI has continued to rise gradually and has now reached $1.73 billion, the highest level since March 10.

This increase in OI also corresponds to a positive funding rate. When this metric is positive, it means that traders who go long are paying short traders to keep their positions open. This reflects an optimistic market sentiment, as many traders are betting on the predicted Dogecoin price increase.

As of March 24, 2025, DOGE’s price spike also triggered the liquidation of $4.87 million in short positions. The liquidation map over a 30-day period shows another large liquidation zone at $0.197.

If DOGE rises to that level, then $62 million worth of short positions will be liquidated, potentially adding further buying pressure in the market.

Read also: Dogecoin Set to Explode? Analyst Predicts Jaw-Dropping 1,160% Surge!

Bullish Momentum on Dogecoin (DOGE) Price Chart

Dogecoin’s price chart on the one-hour timeframe shows that strong bullish momentum is underway.

The price of DOGE has surged to a two-week high, as the RSI indicator printed a series of higher highs and now stands at 78, signaling solid uptrend strength.

The MACD indicator is also showing an uptrend, which reflects strong buying pressure and supports the continuation of this positive momentum. However, for the bullish trend to continue, DOGE needs to break the crucial resistance level of $0.20.

This increase in Dogecoin price comes after a report from the Wall Street Journal mentioned that President Trump is planning to ease trade tariff policies. Trump’s trade policies were previously attributed to the crypto sector’s poor performance throughout this month.

Therefore, this change in the direction of tariff policy could potentially pave the way for DOGE to continue its hike.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Analyst Predicts $1,200 Dogecoin Price Rally as Open Interest Approaches 2-Week High of $1.73B. Accessed on March 25, 2025