Dogecoin

Billion

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Dogecoin (DOGE) appears to be&nbsp;<a href="https://coinmarketcap.com/currencies/dogecoin/" rel="noopener noreferrer nofollow">eyeing</a> a price rebound after the recent crypto market crash. After rallying above for weeks along with the overall crypto market, DOGE recently started on a downtrend. The meme coin, known for its parabolic price moves, has been struggling to rebound in the last few days.
However, the Dogecoin price has seen a slight gain today. As of writing this article, DOGE is trading at $0.1354. The popular meme coin has witnessed a notable gain of 5.61% in the last 24 hours. However, it should be noted that the Dogecoin price is still down 20.66% over the last seven days, highlighting the intensity of the&nbsp;<a href="https://u.today/dogecoin-founder-issues-major-statement-on-crypto-bloodbath" rel="noopener noreferrer nofollow">recent market crash</a>.
<h2 dir="ltr" id="is-dogecoin-eyeing-price-rebound">Is Dogecoin eyeing price rebound?</h2>
Amid this slight price surge for DOGE today, it appears that things have started to shift overall. A crucial metric of Dogecoin is signaling bullish momentum ahead. Data from CoinGlass&nbsp;<a href="https://www.coinglass.com/currencies/DOGE" rel="noopener noreferrer nofollow">reveals</a> that Open Interest in DOGE has surged by 4.92% over the last 24 hours. Thanks to this slight but important rise, Open Interest now stands at a whopping $967.80, just shy of the $1 billion mark.
Digging further into the CoinGlass data shows that crypto exchange Binance leads in this Open Interest surge for Dogecoin. The popular trading platform has $297.76 million in Open Interest for the coin, followed by Bybit at $241.31 million, and OKX at $102.15 million, amongst others.
For those who do not know, Open Interest is a crucial metric that represents the number of total open positions in a certain crypto, in this case, Dogecoin. The current surge in this metric reveals that investor interest is returning for the&nbsp;<a href="https://u.today/opinions/dogecoin-vs-shiba-inu-which-meme-coin-is-best-performing" rel="noopener noreferrer nofollow">meme coin</a> after the recent price crash. This rise is considered a bullish sign for Dogecoin, which is already aiming to kickstart another price rally.

Dogecoin Open Interest Nears $1 Billion as Price Goes Up

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