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The Dogecoin price pumped 8% in the last 24 hours, trading at $0.083665 as of 4:30 am EST.
On Friday, the open interest in Dogecoin (DOGE) futures, which indicates unsettled futures bets, surged to over 7 billion DOGE tokens. The value of these positions stands at approximately $600 million.
🚀 #Dogecoin futures trading interest has soared over 40% in the last 24h, hitting levels not seen since April, alongside a 12% $DOGE price hike! Open interest is now 7B DOGE ($600M), with Binance leading. Is this a bullish signal or a bearish risk? 🌕🐕 #Crypto #DOGEFutures
— BlockVoyager (@BlockVoyagerAIO) November 17, 2023
This increase in open interest indicates that traders are increasingly holding onto their Dogecoin futures. It reflects a strong belief in the future potential of Dogecoin. The current levels are similar to the bullish phase seen in April, hinting at a resurgence of optimism in Dogecoin.
Dogecoin Price Surges Past $0.072, Maintains Upward Momentum
DOGE is set to sustain its upward momentum, surpassing the $0.072 threshold and returning to this level for the first time since August 2023.
The $0.58 support zone has provided a strong ground for the bulls to drive the prices up, breaking the descending wedge pattern and retesting the 200-day simple moving average. This bullish, solid momentum has propelled the price above the $0.075 resistance level.
After bouncing back from the $0.066 support, the price surged to a peak of $0.082. However, the bulls faced rejection, retreating to $0.072, where they gathered up force, pushing the price to $0.087, marking a significant 19% increase.
The 200-day simple moving average provides crucial support for Dogecoin, and the price has crossed above both the 50-day and 200-day SMAs. confirming the bullish sentiment for the DOGE price.
The relative strength index (RSI) has shown a slight decrease from an overbought level but remains in a bullish trend, trading at 66. However, after the recent price jump, the RSI returned to the overbought region, trading at 72.
This indicates intense buying pressure for DOGE, and if the bullish trend continues, there is potential for the RSI to enter the overbought zone.
Dogecoin Price Poised To Reach $0.1475 Level
The bullish trajectory of DOGE price targets the $0.1475 level by the fourth quarter of 2023, with support from RSI and SMA indicators. Should the current bullish momentum continue, bulls can capitalize on it and push the price beyond $0.15.
Conversely, the $0.095 may provide resistance for the bulls to penetrate, allowing the bears to correct the price to the $0.082 support zone. A candlestick break below this level could see the bulls find a haven at $0.072.
The Meme Kombat project presents a profitable chance for investors through its presale and staking program. If you miss out on the surge in the price of Dogecoin, MK could be a viable alternative to explore.
Meme Kombat (MK) Approaches $2 Million Milestone, Buy Fast
The Meme Kombat (MK) presale has already raised $1.8 million, nearing its $2 million goal.
If you missed buying at the previous price, this would be a better chance before the price increases to $0.214 in 6 days.
As an early investor, you stand to benefit from the current rate of $0.205, with the token price set to rise to $0.274 by January.
$MK is now available at $0.205 per token💰
Are you ready to wager your $MK on mighty brawls between memes? pic.twitter.com/f1UPcSuQCU
— Meme Kombat (@Meme_Kombat) November 16, 2023
Meme Kombat offers user-friendly automatic staking features, diverse betting options, and a robust tokenomics model for sustainable long-term growth.
Buy MK Tokens, Win In $1000 Giveaway
Engage in the $10,000 USDT giveaway competition for an opportunity to secure $1,000 USDT. A modest $100 MK token acquisition qualifies you for participation, and the contest stays active until the presale reaches the $2 million mark.
Engage in meme battles using MK tokens, and bet on your favourite memes to win exciting prizes. You also have the opportunity to experience a substantial APY of 112% and tap into 30% of the token supply allocated for staking and participant rewards in meme battles.
This weekend is going to be legendary💪
How about we get to that $2 million mark so we can give away 10,000 USDT👀 $MK pic.twitter.com/Rfy2jHpUDA
— Meme Kombat (@Meme_Kombat) November 17, 2023
The CryptoNews YouTube channel, boasting a subscriber base of over 5,000, offers valuable insights into the potential for a minimum of 10X returns on investments in MK tokens.
To join the presale, visit the official Meme Kombat website, connect your Web3 wallet, and acquire MK tokens using BNB, ETH, or USDT.
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