Dogecoin Open Interest Soars, Fueling Price Rally to New Highs

A surge of $670 million in Dogecoin’s open interest has fueled a price rally, pushing the cryptocurrency past its previous record high of $0.2375. Market analysts point to this significant increase as evidence of growing investor confidence and sustained market growth. 📈 📈 This positive trend is accompanied by soaring trading volume, with options volume increasing nearly 27% and futures open interest rising by a substantial 23.52%. This indicates a robust commitment from traders on platforms like Binance, driving a long/short position ratio exceeding 3.1.