Dogecoin Price After Reclaiming $0.10 as Open Interest Hits $1.66B

Dogecoin price rose 2.53% over 24 hours to $0.101 after briefly reclaiming the closely watched $0.10 level. The meme coin outpaced Bitcoin, which gained 0.45% during the same period. Momentum followed a Bitcoin-led market rally, while short liquidations added pressure to the advance.

The broader cryptocurrency market gained 0.55%, lifting its total value to $2.93 trillion. Trading volume reached $141.8 billion as Bitcoin price hovered near $85,981. Ethereum traded around $2,750, while XRP stood near $1.54. Bitcoin earlier touched $87,000 after breaking above May resistance around $82,814. 

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Dogecoin Open Interest Climbs to $1.66B as Trading Surges

The Dogecoin derivatives market recorded stronger trading activity, while options demand moved in the opposite direction.

The volume of derivatives increased by 72% to 5.42 billion, as more people got engaged in the DOGE over the period.

The open interest also increased by 5.65% to 1.66 billion, meaning that traders were adding new positions and not closing existing contracts.

Nonetheless, the volume of options declined 40.77, indicating that the more generalized rise was accompanied by decreased demand in those contracts.

Options open interest increased 4.86% to $459,570, signalling that existing exposure continued expanding during the period.

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Dogecoin ETF Inflows Near $1M as Grayscale Leads Demand

The three US spot Dogecoin ETFs recorded $909,650 in combined net inflows on September 21. Grayscale’s GDOG led activity with $1.50 million, offsetting 21Shares’ TDOG outflow of $593,310. Bitwise’s BWOW reported no daily movement. 

Combined trading volume reached $2.31 million, while total net assets stood at $15.14 million. Total inflows increased to $13.29 million, with GDOG holding the largest asset base among the three funds. 

Can Dogecoin Price Hold $0.095 Before Its Next Major Rally?

DOGE price jumped to $0.09961 following its breach of the critical 0.095 resistance mark.

The four-hour formation is still bullish, with Dogecoin consolidating around the psychological level of $0.10. The breakout was supported by increased trading volume, with the market showing greater participation as the market advanced.

The Relative Strength Index, however, is 70.13, which is close to overbought. This reading indicates that momentum is high, but a short-lived pullback might be experienced.

The MACD line is above the signal line, and the positive histogram adds additional gains. Nevertheless, weakening histogram bars suggest the possibility that bullish momentum is decelerating.

A confirmed break above $0.10 could send the future Dogecoin outlook toward $0.105. Stronger buying pressure may then open a path toward $0.11.

Conversely, rejection near $0.10 could push the Dogecoin price back toward $0.095. Losing that support would expose the $0.09 region.