Dogecoin reclaims $0.10 as speculative demand heats up – Can DOGE hold?

Dogecoin rebounded with the broader crypto market and briefly reclaimed $0.10. The memecoin reached a local high near $0.106 before pulling back.

At press time, DOGE traded at $0.099, up 7.43% on the daily chart. Spot Volume rose 72.42% to $3.36B, reflecting renewed speculative participation.

Derivatives heat up

Futures activity strengthened alongside the price.

CoinGlass data showed Derivatives Volume climbed 72.42% to $3.36B. Open Interest rose 7.05% to $1.05B.

Options Volume surged 89.61%, while Options Open Interest dropped 48.68% to $126.08K.

That move aligned with expanding leveraged exposure.

When Open Interest and Volume rise together, it typically signals fresh positioning rather than position closures. However, direction depends on positioning bias.

Long/Short data showed mild bullish dominance. The 24-hour Long/Short Ratio stood at 1.0182.

On Binance, the Long/Short Ratio read 1.9833. OKX accounts showed 2.63. Binance Top Trader Long/Short reached 2.4364, while Positions stood at 1.6772.

That skew suggested aggressive long exposure among top traders.

Even so, rising leverage alone does not confirm continuation.

Can DOGE hold above $0.1?

Dogecoin [DOGE] jumped above $0.1 and retraced back towards $0.09 as speculative demand slowed while profit takers entered the market.

With the price hike, the memecoin flipped the Relative Strength Index (RSI) bearish threshold level at $0.10343 before the pullback.

This showed that, although buyers entered the market, demand remained insufficient to push DOGE above a bullish threshold.

Additionally, the memecoin’s Relative Vigour Index (RVGI) made a bullish crossover, rising to -0.09. This momentum indicator remained in negative territory despite a bullish move, further validating the presence of sellers in the market.

In fact, after DOGE rebounded, the memecoin’s Sell Volume rose to 256 million compared to 244 million in buy volume.

As a result, the memecoin recorded a negative delta of -12 million, a clear sign of increased selling pressure.

Such market conditions showed a market at a crossroads, with bulls and bears actively fighting for market control. Thus, the next move depends on which side displaces the other.

If the demand recently witnessed holds and turns sustainable, DOGE will flip the bearish threshold again and target $0.11. Setting the ground for a possible jump towards the bullish threshold at $0.14.

However, if sellers continue to exert downside pressure, making demand insignificant, DOGE will drop to the Oversold Rebound level at $0.093.

Final Summary

• Dogecoin [DOGE] reclaimed $0.10 briefly, hitting $0.106 before retracing to $0.099.
• Derivatives Volume jumped 72.42% to $3.36B, while Open Interest rose 7.05% to $1.05B.