Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin (
DOGE)
Open Interest Nears 2-
Month Low Following Steep 20%
Pullback
In April, Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin (DOGE) Open Interest reached a yearly high of $12 billion
but dropped massively between that peak and October. It rose again earlier
this month but is now on the verge of declining to its lowest point since
November 10.
The decline in OI, as it is commonly called, aligns with DOGE’s price action,
which has declined 20% within the last seven days. So, what’s next for the
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта?
Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Traders Reduce Exposure, Investors Cautious
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Currently, Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Open Interest is down to $1.42 billion. OI represents the
total number of open contracts—long or short—in a futures or options market at
any given time. Rising OI indicates new positions are being added, reflecting
greater engagement and confidence in the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта’s price movement.
Conversely, a decrease in the indicator reflects position closures, suggesting
dwindling trader confidence or a neutral outlook on the asset. Therefore, the
notable decline in DOGE s OI suggests that traders do not expect the
short-term price movement to yield good gains.
If this trend continues, alongside Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin’s price decrease to $0.32, the
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта’s value could see an extended correction.
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Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Open Interest. Source: Santiment
The Mean Dollar Invested Age (MDIA) is another indicator suggesting a further
decrease in Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin’s price. As the name implies, the MDIA is the average age
of all coins on a blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн weighted by the purchase price.
When the MDIA rises, it suggests that holders are keeping their coins in
wallets without active trading. This indicates stagnation and is typically
seen as bearish. A decline in the MDIA suggests that previously dormant coins
are moving, implying increased activity or trading. This is usually considered
bullish , as it may indicate renewed interest and liquidity
According to Santiment, Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin s 90-day MDIA has increased, signaling
that holders are largely keeping their coins stagnant. If sustained, this
supports the bearish outlook for the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта. Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Mean Dollar
Invested Age. Source: Santiment
DOGE Price Prediction: Correction Not Over
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On the daily chart, DOGE continues to lose hold on key support levels.
Notably, the coin has dropped below the $0.35 support region as bulls failed
to defend the zone. The Moving Average Convergence Divergence (MACD) also
supports this decline.
The MACD measures momentum. When the reading is positive, momentum is bullish.
But if it is negative, the reading is bearish. As seen below, the MACD reading
is in the negative region. If this remains the same, Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin’s price might
drop to $0.27. Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Daily Analysis. Source: TradingView
On the other hand, if bulls regain the $0.35 support and successfully defend
it, this trend might change. In that scenario, DOGE could rebound toward
$0.48.
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