Dogoin’s open interest decreases by 67 % in three months – can Meme currencies restore?
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Dogecoin is traded at the main demand levels two weeks after the massive sale pressure, with the DOGE bears to the bottom of more than 30 %. The metal currency sector was wounded by the most difficult during this market correction, which began in mid -January, and as a pioneer in the market, Dogecoin suffered more than others.
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Investors began to question the sustainability of the Meme Coin Rally, especially as weakening continues to be weak in all fields. Glassnode measures confirm this landmark, as it revealed that Dogecoin’s open interest has decreased by 67 % during the past three months.
With a doge now at a critical level, traders monitor whether the bulls can intervene in obtaining support and paying prices up. If purchasing pressure revenues, Dogecoin can start a strong gathering for recovery, but if the direction continues, you may follow more liquidation and losses. The next few days will be very important as investors evaluate whether DOGE can restore or extend its decline in this volatile market.
Dogecoin faces pressure
After the market collapsed for this week, Dogecoin has struggled to restore major price levels and still face a great risk of declines. The Meme currency sector was one of the most difficult areas in the encryption area, with analysts blamed the speculative MIM currency that was traded as a major factor behind the wider encryption correction. With the weakening of feelings, Duij and other Metal coins are still losing the Earth, unable to recover from huge sales.
Senior analysts Ali Martinez Glassnode joint data on x It revealed that the Dukwin Open has decreased by 67 % over the past three months. The open interest has decreased from the highest level ever at $ 4.07 billion to only $ 1.33 billion today, highlighting that traders have lost his attention in Dog and that speculation has dried up. This data emphasizes the negative environment surrounding the coins, and as a pioneer in the market, Dogecoin set the tone of the entire MG sector, which is still struggling.
In order to regain the momentum, the bulls must intervene and defend the main demand levels. The collapse without current support may increase the pressure pressure, while restoring the levels of higher resistance can indicate a possible rise in the recovery. With the decrease in open attention and size of the size, Dogecoin remains in a critical position, and will determine the next few weeks if the bulls can regain control or whether the declining direction will continue.
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Dodge
Dogecoin (Doge) is currently trading at $ 0.21 after weeks of overwhelming price procedures. Bears remain in control, and the momentum continues to push the price to lower levels, which makes it difficult for bulls to restore strength. Doug was in a steady declining direction, as it struggled to obtain strength as the metal coins facing increased sale pressure throughout the market.
If the bulls want to restore control, DOGE must pay the highest level of $ 0.24 and keep it as support. Restore this level would indicate a short -term force and can lead to a relief gathering towards higher resistance areas. However, with the continuing market morale, the penetration appears to be unlikely unless the total conditions improve.
On the negative side, if DOGE fails to keep current levels, about $ 0.15 will be expected. This level represents an important psychological and technical support, but its loss will put a doge in an unknown area for this session. As open interest and liquidity drying, bulls need to intervene soon, or the declining trend may accelerate.
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The next few days will be decisive as Duja is trying to stability or continue to bleed. If market conditions remain weak, then the additional pressure on the negative side can push Dog to low demand areas.
